Astute Metals NL (ASX: ASE) (“ASE”, “Astute” or “the Company”) is pleased to report assay results from the first of six holes completed as part of its highly successful April 2025 diamond drilling campaign at the 100%-owned Red Mountain Lithium Project in Nevada, USA. Drill-hole RMDD003 has returned three high- grade intersections of lithium mineralisation:

• 32.4m @ 3,260ppm Li / 1.74% Lithium Carbonate Equivalent¹ (LCE) from 57.2m, including an internal high-grade zone grading 8.6m @ 5,060ppm Li / 2.69% LCE from 67.7m;
• 13.8m @ 1,330ppm Li / 0.71% LCE from 39.6m; and
• 23.3m @ 1,610ppm Li / 0.86% LCE from 94.4m to End-of-hole.

Key Highlights

• Outstanding lithium mineralisation returned in assays for diamond drill-hole RMDD003, which intersected:
  • 32.4m @ 3,260ppm Li from 57.2m, including 8.6m of ultra high-grade mineralisation @ 5,060ppm Li from 67.7m;
  • 13.8m @ 1,330ppm Li from 39.6m; and
  • 23.3m @ 1,610ppm Li from 94.4m to end-of-hole
• RMDD003 marks the highest-grade lithium intercept recorded to date at Red Mountain.
• Mineralisation successfully extended 630m north of previous northernmost intersection in hole RMDD002.
• Hole ends in lithium, with mineralisation remaining open down-dip to the east and along strike to the north.
• Assays pending from five other recently completed drill- holes.

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The thick zones of lithium mineralisation encountered in the northernmost drill-hole at Red Mountain highlight the increasing scale of the project, with strong lithium mineralisation now intersected in all drill- holes spanning a north-south strike extent of over 5.6km and surface sample geochemistry indicating further potential to the north, south and west of the current drilled extents7, 9 (Figure 3).

Of particular significance in hole RMDD003 is the high-grade nature of the mineralisation. The nearest drill-hole is RMDD002, which intersected 32.1m @ 2,050ppm within a broader 86.9m intersection at 1,470ppm Li from 18.3m. The high-grade zone in RMDD002 has persisted north to RMDD003, and increased in grade significantly to over 3,000ppm lithium.

Assays are pending for the other five holes drilled as part of the April diamond drilling campaign.

Astute Chairman, Tony Leibowitz, said:

“Our 2025 exploration campaign is off to a fantastic start, with exceptional assays returned for the first step-out diamond hole, RMDD003. We are impressed by the thickness and grade of the mineralisation, with the high-grade intercept returned from this hole showing that the previously identified high-grade zone extends for a considerable distance to the north.

“This provides further indication that Red Mountain is unfolding as a lithium discovery of significance in North America. With mineralisation now defined by drilling over a strike length of almost 6 kilometres, we are looking forward to seeing what the remaining drill-holes will deliver. The information obtained from this round of drilling should put us on a clear trajectory to advance Red Mountain towards a maiden JORC Mineral Resource Estimate later this year.”

Background

Located in central-eastern Nevada (Figure 4) adjacent to the Grand Army of the Republic Highway (Route 6), which links the regional mining towns of Ely and Tonopah, the Red Mountain Project was staked by Astute in August 2023.

The Project area has broad mapped tertiary lacustrine (lake) sedimentary rocks known locally as the Horse Camp Formation². Elsewhere in the state of Nevada, equivalent rocks host large lithium deposits (see Figure 4) such as Lithium Americas’ (NYSE: LAC) 62.1Mt LCE Thacker Pass Project³, American Battery Technology Corporation’s (OTCMKTS: ABML) 15.8Mt LCE Tonopah Flats deposit⁴ and American Lithium (TSX.V: LI) 9.79Mt LCE TLC Lithium Project⁵.

Astute has completed substantial surface sampling campaigns at Red Mountain, which indicate widespread lithium anomalism in soils and confirmed lithium mineralisation in bedrock with some exceptional grades of up to 4,150ppm Li^2,8 (Figure 3).

A total of 13 RC and diamond drill holes have been drilled at the project for a combined 1,944m, prior to this current drilling program. These campaigns were highly successful, intersecting strong lithium mineralisation in every hole⁹.

Scoping leachability testwork on mineralised material from Red Mountain indicates high leachability of lithium of up to 98%, varying with temperature, acid strength and leaching duration, and proof of concept beneficiation test-work has indicated the potential to upgrade the Red Mountain mineralisation^10,11.

Results

Hole RMDD003 successfully intersected three zones of lithium mineralised clay-bearing mudstones and sandstone, separated by narrow zones of unmineralised rocks (Figure 1). The intersections are as follows:

• 13.8m @ 1,330ppm Li / 0.71% LCE from 39.6m to 53.4m;
• 32.4m @ 3,260ppm Li / 1.74% LCE from 57.2m to 89.6m; and
• 23.3m @ 1,610ppm Li / 0.86% LCE from 94.4m to End-of-hole (117.7m).

The best grades were developed in the most clay-rich zones (Figure 2). An internal very high-grade zone of 8.6m returned a grade of 5,060ppm Li, with a maximum single sample grade of 5,660ppm Li from 69.2-70.7m (227-232ft), which is the drill sample with the highest lithium grade achieved to date at the project.

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White Cliff Minerals Limited (“WCN” or the “Company”) (ASX: WCN; OTCQB: WCMLF) is pleased to announce it has received firm commitments to raise approximately A$14.4m (before costs) through the issue of 384,615,398 new, fully paid ordinary shares in the Company. Utilising the “flow-through shares” provisions under Canadian tax law 307,692,321 shares will be issued at an issue price of A$0.0403 per share representing a 38.9% premium to WCN’s last trading price of A$0.029 (14 May 2025) for a total of A$12.40m (Flow-Through). Additionally, the Company has received firm commitments to raise $2 million (before costs) through a share placement to new and existing sophisticated and professional investors (Placement). 76,923,077 shares will be issued under the Placement at $0.026 per share, being a 10.3% discount to the Company’s last closing price before trading halt.

• Capital raise cornerstoned by the Company’s Strategic Advisor, John Hancock and his private family office, Astrotricha Capital SEZC.
• The capital raise was significantly oversubscribed and the Company received investment from a number of new Australian, United Kingdom, Hong Kong and Singaporean financial institutions as well as existing institutional and sophisticated shareholders
• Funds will be used to expand and accelerate drilling and exploration activities at the Company’s Rae Copper Project with drilling set to recommence from mid-July
• Drilling activities will include both reverse circulation and diamond drilling, providing the Company flexibility in its targeting approach
• Aerial and downhole geophysics are to be undertaken to further refine drill targets across the Rae Copper Project
• Following encouraging visual results, the Company expects to update shareholders on further assays results for holes 5, 6 and 7 at Danvers, expected to be received over the coming weeks

”The successful completion of this capital raise is a testament to the quality of our Rae Copper Project and the confidence that investors have in our exploration strategy. The ability to access the less dilutive flow through funds at a circa 40% premium is a huge advantage and value accretive for shareholders. Further, John Hancock and his Astrotricha Capital Family Office cornerstone position in the raise, along with the support of other high net worth investors introduced by Astrotricha, reflects their shared vison for the future of WCN and underpins the Company’s development plans for the Rae Copper Project.

The outlook for copper prices remains robust and the Company is poised to ramp up exploration efforts as we capitalise on its strong financial position following this raise, in addition to the ongoing conversion of WCNO options. Following recent high-grade results, this upcoming drilling at Danvers will lay the foundation for a maiden exploration target at the project over the coming period. We are very excited about the potential to delineate a material resource around the immediate drilling area at Danvers and to potentially encompass additional deposits along the regional 7km + strike.

In parallel, drilling will commence at the major sedimentary hosted copper target at Hulk. The pre collars that we have completed at Hulk sit only about 50mtrs above the target horizon and with diamond rigs planned to arrive in the coming months at which time we plan to drill all project areas and deliver on the potential for an additional major copper discovery at our Rae Project.”

Troy Whittaker – Managing Director

“Starting out as a Strategic Advisor to WCN with an initial invested stake, I have now become the Company’s largest shareholder and am pleased to see another well executed and strongly supported capital raise at a premium to the share price. The WCN focus has been on minimising existing shareholder dilution whilst attracting strategic investor capital to accelerate exploration and at the same time, securing the Company’s financial position for the longer term. There is now global investor interest in WCN’s prospects and I look forward to further upcoming drill results.”

John Hancock – Strategic Advisor to WCN

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Uvre Limited (ASX: UVA) (the Company or Uvre) is pleased to announce that highly regarded mining entrepreneurs Norman Seckold and Peter Nightingale will be appointed non-executive directors of Uvre with effect from settlement of the acquisition by the Company of 100% of the issued share capital of MEL (Acquisition). Norman Seckold and Peter Nightingale will emerge with 16.5% and 1.3% respective stakes in the Company upon settlement of the Acquisition and Equity Raise.

Highlights

• Uvre has signed a binding agreement to acquire 100% of the fully paid ordinary shares in the capital of Minerals Exploration Limited (MEL) from the shareholders of MEL (Vendors). MEL’s wholly owned subsidiary is New Zealand gold explorer Otagold Limited (Otagold).
• Highly regarded mining executives Norman Seckold and Peter Nightingale, who are major shareholders of MEL, will join Uvre as Non-executive Directors.
• Norman Seckold was previously Chairman of the New Zealand gold developer Santana Minerals (ASX:SMI) and is currently Chairman of Alpha HPA (ASX:A4N), Nickel Industries (ASX:NIC), Fulcrum Lithium (ASX:FUL) and Sky Metals (ASX:SKY).
• Subject to receipt of Shareholder approval, Uvre will issue 75 million fully paid ordinary shares in the capital of Uvre (Shares) at a deemed issue price of 8c per Share for a total of $6.0 million as the full consideration to the Vendors, including Mr Seckold who is the largest shareholder of MEL.
• The acquisition of MEL is subject to completion of several conditions precedent, including due diligence on MEL, Otagold and the permits held by Otagold. The acquisition is also contingent on Uvre raising at least $4.0 million in a single tranche share placement at 8c per Share, to be lead managed by Bell Potter Securities Ltd (Equity Raise). The Equity Raise will be subject to shareholder approval.
• Firm commitments have been secured for the $4.0m Equity Raise following a well-supported bookbuild, including incoming directors Norman Seckold ($500,000) and Peter Nightingale ($100,000) subject to shareholder approval.
• Otagold holds a 100% interest in three exploration permits, one prospecting permit and one prospecting permit application in New Zealand covering 332sqkm of highly prospective ground (the Permits).
• Otagold’s flagship asset is the Waitekauri Gold Project located 8km west of OceanaGold Corporation’s Waihi gold mine (10Moz) on New Zealand’s North Island; Waitekauri also sits adjacent to three other +1Moz Au deposits.
• Extensive gold mineralisation and numerous drilling targets already identified at Waitekauri, which had historical production grade of 48g/t Au+Ag.
• Uvre has executed a binding Share Sale Agreement (SSA) with the Vendors, MEL and Otagold with due diligence well advanced; Uvre will shortly call a shareholder meeting to approve the transaction, expected to be around the end of June 2025.

Uvre Executive Chairman Brett Mitchell said:

“This transaction is an exceptional opportunity for Uvre on several levels.

“Norm and Peter will bring a wealth of knowledge and experience in the resources business, along with a track record of creating substantial shareholder value through resource asset exploration and proįect development.

“The Otagold proįects led by Waitekauri have compelling gold exploration upside in a tier-one įurisdiction, as shown by the extensive mineralisation and drilling targets already identified.

“The combination of Norman’s well-known record in building successful mining proįects combined with the talented Uvre team, the immense exploration upside at these proįects and the strong financial position which will follow the placement will leave Uvre very well-placed to create significant value”.

Norman Seckold said:

“This transaction will enable Uvre to unlock what we believe is the substantial value of these proįects.

“We will have the assets, the team, the experience and the financial strength to conduct the immediate exploration programs which will maximise our ability to create value.

“The work we have already done on the proįects shows they are highly prospective and with the support of the Uvre team and access to capital, we can take them to the next level with the aim of building substantial gold inventories in a tier one location”.

Otagold Projects Summary

Otagold holds a 100% interest in three exploration permits, one prospecting permit and one prospecting permit application on New Zealand’s North and South Islands, covering 332km² of highly prospective ground.

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