Olympio Metals Limited announced that re- sampling of historical trench samples has confirmed the previous high-grade REE results, with TREO grades up to 1.02% TREO (10,250ppm), and 819ppm niobium.1 The TREO grade is increasing trending south towards the Walloway Carbonatite, which is postulated to be the source of the mineralisation. Previous trench samples have delineated a >10km trend of coincident elevated niobium and REEs. TECHNICAL DISCUSSION The Eurelia Project Joint Venture and the Walloway Project are located within the Adelaide Geosyncline in South Australia and encompass a large area prospective for carbonatite-hosted REE mineralisation.

Eurelia/Walloway are located near the intersection of two regionally significant crustal structures. The Eurelia Project Joint Venture (Eurelia) is a JV between Copper Claim and Olympio covering EL6374. The 100% owned Walloway Project (Walloway) is an ELA (tenement application) immediately south of Eurelia.

The Walloway Project area covers a portion of a defined carbonatite, the Walloway Carbonatite, which the Company believes is highly prospective for niobium and/or REE mineralisation. Review of aeromagnetic data has highlighted numerous magnetic signatures similar to the Walloway Carbonatite signature on the eastern boundary of the area, but which have never been drill tested. Advance inversion modelling of these targets is almost complete, and it is expected that numerous high priority carbonatite drill targets will result.

Furthermore, the significant niobium and REE trend of the Eurelia Project extends south on to the Walloway Project, increasing further the potential for Walloway to host significant REE mineralisation. Assaying Of Historical Eurelia Trench Samples Historical trench samples were collected by Flinders Diamonds in the period 2004-2009 (Miller & Parker 2010). The samples have been stored by JV partner, Copper Claim, in secure storage in Adelaide, and these were recently made available to Olympio exploration staff for sampling.

The stored historical samples were typically 10-20kg and were representatively sampled as 200-300g samples. The samples were assayed at ALS by method ME-MS81D (trace elements including REE. The sampling has identified numerous zones consistently enriched in REE and Nb.

In the south of the Eurelia tenement, a >500m strike length of REE mineralisation has been identified with TREO consistently >0.1%. The sampling has supported historical REE and Nb assay results at Eurelia and has produced compelling targets with significant strike potential. Olympio geologists have been to site to review the drill targets and met the landowners.

An EPEPR drill proposal has been submitted to the SA Department of Mines. Drilling will commence as soon as the regulatory approvals are granted.