The Board of Sky Metals Limited announced the maiden inferred mineral resources estimation at the Tallebung Project, NSW. An Exploration Target at Tallebung of approximately 16 21 Mt at a grade ranging between 0.16 - 0.20 % tin has been defined from the drilling completed to date. The potential quantity and grade referred to above as the Exploration Target is conceptual in nature, as there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.

SKY will commence further drilling of this exploration target in the next three months of at least 10-20 RC holes and further diamond drilling with the aim to expand the Inferred Mineral Resource Estimate below and grow confidence in this estimated Exploration Target. Independent geological consultants, H&S Consultants Pty Ltd. (H&SC), was retained to provide a maiden Inferred Mineral Resource Estimate (MRE) for the Tallebung Tin Project. H&SC compiled the 81 holes drilled at Tallebung to date, including 51 holes drilled by SKY since 2019, for approximately 12,716 assays in total, to produce the MRE.

This maiden MRE and Exploration Target demonstrate the large-scale tin system that SKY is exploring at Tallebung. Follow up work will focus on expanding on these initial estimates to continue to grow this large target. SKY is planning drilling to infill and, ultimately, upgrade and expand this maiden MRE and Exploration Target in the following months to continue to develop the Tallebung Tin Project.