Macarthur Minerals Announces Strategic Investment by Tulshyan Group - Seite 2

Since July 2006 Macarthur Minerals has drilled 1,841 reverse circulation percussion drill holes (142,443 metres) and 49 diamond holes (4,170 metres) targeting iron mineralisation associated with BIF units. Exploration at both Ularring Hematite and Moonshine Magnetite projects has been sufficient to allow the estimation of Mineral Resources for both projects.

The Ularring Hematite Project's Mineral Resource consists of Indicated 54.46 Mt @ 47.2% Fe and Inferred 25.99Mt @ 45.4% Fe¹. Macarthur Minerals published a Pre-Feasibility Study in 2012, reporting Mineral Reserves².

The Company has received approval to develop an iron ore mine for the Ularring Hematite Project and associated infrastructure at the project location under the Environmental Protection Act 1986 and the Environmental and Biodiversity Conservation Act 1999.

The Inferred Mineral Resource estimate for the Moonshine Magnetite Project was initially prepared by CSA Global Pty Ltd³ and was updated by Snowden Mining Industry Consultants, with an Inferred Mineral Resource consisting of 1,316 Mt @ 30.1% Fe⁴.

A Preliminary Assessment Report was prepared on the Moonshine Magnetite Project by Snowden Mining Industry Consultants in 2011⁵.

Australian 'Hard Rock' Lithium Projects

The Company has one of the largest lithium hard rock acreage packages in Australia, covering an area of 2,138 square kilometres (528,311 acres) across the Pilbara, Ravensthorpe and the Yalgoo/Edah regions of Western Australia. Initial reconnaissance across the Company's acreage has been encouraging, including initial assay results from rock chips of up to 3.75% lithium (Li₂O) received at the Yalgoo Lithium Project (see the Company's announcement dated October 12, 2016). The Company is working on exploring its lithium projects in Western Australia with the aim of discovering and developing an economic resource.

Nevada 'Brine' Lithium Project

The Company's Stonewall Lithium Project located in the Lida Valley, in southern Nevada, covering approximately 12,019 acres (48.64 square kilometers). As previously announced, lithium has been detected at the Stonewall Project from a shallow drilling program conducted as part of due diligence for acquisition of the Stonewall Project. All nine shallow drill holes reported lithium, with grades up to 145.5 ppm Li from near surface sediment, confirming that lithium is present in the Lida Valley⁶.