Canegrass Drilling Update at its Ni-Cu-Co-PGE Project in Western Australia - Seite 2

Previous Drill Program Highlights:

• Notable 2018 Drill Intercepts (Figures 1 & 2):
  • (Tulloch BBDD002) 4.9 m @ 1.33% Ni, 1.26% Cu and 0.10 % Co.
  • (Winx BBRC001) 14.0 m @ 1.17% Ni, 0.88% Cu and 0.05 Co from 65.0 m, including 1.0 m of 2.70% Ni, 0.23% Cu and 0.12% Co.
  • (Sunline BBDD001) 0.57 m @ 3.07% Ni, 0.62% Cu and 0.24% Co from 144.1 m
• Notable 2021 Drill Intercepts include drillhole BBDD009 results that identified 41.1 m of favourable host rock with two distinct mineralized horizons
  • The first intercept started at 278.9 m and included higher-grade intervals of
    • 1.0 m @ 2.8% Ni, 0.1% Cu, 0.15% Co 0.11 g/t Pt and 0.21 g/t Pd,
    • 0.7 m @ 2.3 % Cu, 0.5% Ni, 0.04% Co, 0.33 g/t Pt and 0.04 g/t Pd
    • 2.0 m @ 1.8% Ni, 0.5% Cu, 0.11% Co, 0.22 g/t Pt and 0.17 g/t Pd.
  • The second mineralized horizon occurs at 307.5 m downhole and intersected two higher grade intersections of
    • 3.1 m @ 2.2% Ni, 0.2% Cu, 0.15% C, 0.15 g/t Pt and 0.21 g/t Pd, and
    • 1.1 m @ 0.9%Ni, 5.7% Cu, .07% Co, 0.11 g/t Pt and 0.05 g/t Pd (Figure 3)
• Additional 2021 RC results from the Tulloch zone include:
  • BBRC0013 returned: 3.0 m @ 0.88% Ni, 0.4% Cu and 0.07% Co from 91.0 m downhole
  • BBRC014 returned: 3.0 m @ 1.0% Ni, 0.58% Cu and 0.09% Co from 139.0 m downhole

2022 Exploration Strategy

The Canegrass Project is situated in the Windimurra Intrusive Complex within a favourable geological setting and multiple mineralized horizons in favourable host rocks. The Project is not presently geologically constrained and offers exceptional exploration potential. The project has only been explored approximately 20% out of the total 7 km strike length of the mineralized shear zone. The potential for the current zones to be connected along strike and at depth is strong, and Huntsman plans to exploit the gaps in the 2022 and upcoming exploration programs.

The current 2022 exploration program is designed to take aggressive step outs on it already existing mineralized zones delineated by the 2018 and 2021 drill programs. The Canegrass project has over 7 km of strike along a proven mineralized zone with 5 high priority targets contributing to 2.5 km in the northern part of the project, which are Bonecrusher, Saintly, Tulloch, Tobin Bronze, and Sunline (Figure 2).