Norwest Minerals : Large LCT pegmatite anomaly at Arunta West

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ASX ANNOUNCEMENT

ASX: NWM

03 March 2022

• Arunta West Update 2 -

Large LCT pegmatite anomaly identified from ongoing analysis

of the 2021 soil multi-element geochemical programme

Highlights:

• Further analytical work by Norwest on wide spaced soil samples has identified a large LCT pegmatite anomaly on tenement E80/5031 (NWM 100%).
• The samples were collected on a 700m x 700m diagonal grid pattern in 2021, with muti-element assays reporting elevated and coincident lithium (Li) - Tantalum (Ta) - Niobium (Nb) over a 6km x 2km zone.
• Co-incidentLithium-Tantalum and Niobium are considered key components for fertile LCT pegmatites.
• The LCT pegmatite anomaly is located along a greenstone-granite contact where major cross-cutting structures appear to focus the elevated Li, Ta & Nb elements.
• Norwest has submitted work applications for mapping, rock chip and infill soil sampling and expect to mobilise to site during the June 2022 quarter.
• Detailed geochemical analysis of 6,550 multi-element assays from the
  Company's 2021 surface sampling programme is progressing.

Norwest Minerals Limited ("Norwest" or "the Company") (ASX: NWM) is pleased to announce additional rare element anomalism from its ongoing analysis of the 6,550 multi-element soil samples covering its 840km² Arunta West Project ("Arunta West"). The work has highlighted a 6km x 2km anomaly from wide spaced sampling along a granite-greenstone geological contact where elevated and coincident lithium (Li) - tantalum (Ta) and niobium (Nb) occur. These elements are recognized as key components for fertile LCT pegmatites.

Significant LCT pegmatite anomaly identified at Arunta West

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Norwest's CEO, Mr. Charles Schaus commented: "The analysis work by our consulting geochemist continues to prove fruitful with the identification of this large LCT pegmatite anomaly which follows on the back of this week's rare earth REE anomaly announcement1. The occurrence of the elevated and coincident lithium, tantalum and niobium samples along a greenstone-granite contact makes for very exciting follow-up exploration of this LCT pegmatite target. Norwest is submitting a follow-up work program this week to ensure the rapid mobilization of our field crew to site."

Figure 1 - Map showing location of new LCT pegmatite anomaly and 2021 soil sampling coverage across the 840km² Arunta West project tenements.

The LCT pegmatite anomaly

Analysis of the muti-element assay results from widely spaced soil samples collected across tenement E80/5031 (NWM 100%) has highlighted a large 6km x 2km area having zones of coincident and elevated lithium, tantalum, and niobium; all of which are key elements associated with fertile LCT pegmatites. The anomalous LCT-pegmatite zones are situated within the Bittersprings/ Paterson /Heavitree Formation located along the Mount Webb granite contact where regional scale structures crosscut and appear to focus these key elements.

The Company's 2021 regional soil samples (N=6,550) were collected on a 700m x 700m offset grid pattern across the LCT pegmatite anomaly and were submitted for a 48 element multi element analysis. The 2021 soils programme was designed by Norwest's consulting geochemist based on his analysis of the 3,000 soil samples collected by the Company in 2019 and his review of previously unexplored areas across Norwest extensive landholding. Follow-up exploration of the new LCT pegmatite anomaly will include mapping, rock chip sampling as well as infill soil sampling on a 200m

1 ASX: NWM - Announcement 28 February 2022, 'Significant REE anomaly at Arunta West'

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Significant LCT pegmatite anomaly identified at Arunta West

x 200m diagonal pattern. A works programme is being submitted this week in line with the Land Access Agreement with the traditional owners, the Tjamu Tjamu people, to ensure follow-up exploration work commences as soon as possible.

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Figure 2 - Dot & contour maps showing location of elevated and coincident LCT pegmatite elements lithium, tantalum, niobium along with the relevant geology including the granite-greenstone contact and regional crosscutting structures.

Background

Norwest Minerals acquired the Arunta West project in November 2018 from Australian Mines Limited as part of a spinout and listing of its WA mineral resource projects. In 2019 Norwest undertook a 3,000-point soil sampling program targeting the more prospective areas within the 1,350km² Arunta West project area. All 3,000 samples were assayed for 33 elements. In 2020, COVID-19 issues restricted access by Norwest to its Arunta West tenements thus no follow-up fieldwork was undertaken. In early 2021 Norwest brought in an independent geochemist to analyse the Arunta West dataset and identify, rank and plan follow-up exploration and to recommend non-prospective ground for voluntary release. A 6,550-point soil sampling program was designed employing infill sampling at 100m x 50m spacing and regional testing using a 700m x 700m diagonal sample grid. The new programme was completed at the end of July 2021 and the samples were submitted for 48-element analysis which took the laboratory 6 months to complete. In the meantime, the Arunta West project area was reduced to 840km² with the release of ground covering the less prospective Bitter Springs Group located along the southern project boundary.

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Significant LCT pegmatite anomaly identified at Arunta West

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Land Access

Importantly, all Arunta West project tenements are covered by fully executed Land Access Agreements with the Tjamu Tjamu people and supported by a Mining Entry Permit issued to Norwest last year by the Minister for Aboriginal Affairs.

This ASX announcement has been authorised for release by the Board of Norwest Minerals Limited.

For further information, visit www.norwestminerals.com.auor contact

Charles Schaus

Director and Chief Executive Officer

1. [e-mail]

FORWARD LOOKING STATEMENTS

This report includes forward-looking statements. These statements relate to the Company's expectations, beliefs, intentions or strategies regarding the future. These statements can be identified by the use of words like "will", "progress", "anticipate", "intend", "expect", "may", "seek", "towards", "enable" and similar words or expressions containing same.

The forward-looking statements reflect the Company's views and assumptions with respect to future events as of the date of this announcement and are subject to a variety of unpredictable risks, uncertainties, and other unknowns. Actual and future results and trends could differ materially from those set forth in such statements due to various factors, many of which are beyond our ability to control or predict. Given these uncertainties, no one should place undue reliance on any forward-looking statements attributable to the Company, or any of its affiliates or persons acting on its behalf. The Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Neither the Company nor any other person, gives any representation, warranty, assurance, nor will guarantee that the occurrence of the events expressed or implied in any forward-looking statement will actually occur. To the maximum extent permitted by law, the Company and each of its advisors, affiliates, related bodies corporate, directors, officers, partners, employees and agents disclaim any responsibility for the accuracy or completeness of any forward-looking statements whether as a result of new information, future events or results or otherwise.

COMPETENT PERSON'S STATEMENTS

Exploration

The information in this report that relates to Exploration Results and Exploration Targets is based on and fairly represents information and supporting documentation prepared by Charles Schaus (CEO of Norwest Minerals Pty Ltd). Mr. Schaus is a member of the Australian Institute of Mining and Metallurgy and has sufficient experience of relevance to the styles of mineralisation and types of deposits under consideration, and to its activities undertaken to qualify as Competent Persons as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr. Schaus consents to the inclusion in this report of the matters based on his information in the form and context in which they appear.

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Soil and Rock chip sampling - January 2022

Arunta Project

Appendix 1: JORC Code, 2012 Edition - Table 1

JORC Code, 2012 Edition - Table 1 report template

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

	Criteria			JORC Code explanation		Commentary
	Sampling		• Nature and quality of sampling (eg cut channels, random chips, or		• Soil sampling and rock chip sampling was conducted on the Arunta
	techniques		specific specialised industry standard measurement tools appropriate			Project, WA. Soil and rock chip sampling were collected by Apex
				to the minerals under investigation, such as down hole gamma			Geoscience Australia Pty Ltd (Apex). Apex supervised and collated
				sondes, or handheld XRF instruments, etc). These examples should			the data and results for the samples collected. Apex is an
				not be taken as limiting the broad meaning of sampling.			independent geological consultancy.
				• Include reference to measures taken to ensure sample representivity		• Rock samples were collected from outcropping geology, and soil
				and the appropriate calibration of any measurement tools or systems			samples collected in grid patterns from areas of interest on the
				used.			project. The rock chip and soil sample weights were approximately
				• Aspects of the determination of mineralization that are Material to the			0.5-1 kg and 0.5 - 1.0 kg in size, respectively.
				Public Report.		• Samples from surface sampling were submitted to Intertek Genalysis
				• In cases where 'industry standard' work has been done this would be			in Perth, WA for sample preparation and analysis.
				relatively simple (eg 'reverse circulation drilling was used to obtain 1
				m samples from which 3 kg was pulverised to produce a 30 g charge
				for fire assay'). In other cases more explanation may be required,
				such as where there is coarse gold that has inherent sampling
				problems. Unusual commodities or mineralization types (eg
				submarine nodules) may warrant disclosure of detailed information.
	Drilling		• Drill type (eg core, reverse circulation, open-hole hammer, rotary air		•	NA
	techniques		blast, auger, Bangka, sonic, etc) and details (eg core diametre, triple
				or standard tube, depth of diamond tails, face-sampling bit or other
				type, whether core is oriented and if so, by what method, etc).
	Drill sample		• Method of recording and assessing core and chip sample recoveries		•	NA
	recovery		and results assessed.
				• Measures taken to maximise sample recovery and ensure