Armada Metals Limited announced the commencement of a one thousand five hundred line-kilometre (1,500 lkm) airborne survey using the Expert Geophysics Limited's Mobile Magnetotellurics system at its district- scale Nyanga Project in Gabon. Commencing now, the system will be used to rapidly test potential concealed portions of the Libonga-Matchiti Trend (`LMT') and the highly prospective and untested Ngongo-Yoyo Trend (`NYT'). The survey is expected to take until the second half of December to complete, with results from the survey expected in January 2023.

The Nyanga Project Background The Company has developed a multi-target exploration pipeline consisting of 18 targets. Advanced exploration has so far been focused on the 25km-Long LMT. Five of these targets are located along the 25km-long LMT.

This trend is marked by anomalous copper and nickel in soils along gabbro to peridotite fractionation suite units outcropping at surface. The NYT extends for up to 40km from the LMT in a south-easterly direction. MobileMT Survey ­ Survey Details The MobileMT is the latest innovation in airborne electromagnetics.

The MobileMT technology utilises naturally occurring electromagnetic fields in the frequency range of 25 20,000 Hz. The signal/data processing algorithms have been developed from extensive experience within the EGL team. It essentially produces results and depths of investigation comparable to ground AMT methods.

The survey system includes a high sensitivity optically pumped airborne magnetometer. Complimentary VLF data will provide near surface electro-magnetic information. The airborne survey system will comprise the following instrumentation: MobileMT (Mobile MagnetoTellurics) towed bird with the 97 m long tow cable Geometrics G822A or Scintrex CB-3 Caesium magnetometer, installed in a separate towed bird EGL PC-104 based data acquisition system EGL GPS navigation computer/pilot steering indicator Smart micro model UMRR-0A radio altimeter, 0 ­ 500 m range.

Base station and ground support instrumentation will comprise: MobileMT base station, four electric channels for four pairs of electrodes, with data logger - GEM Systems GSM-19 base station magnetometer with data logger - A field data processing workstation and a full suite of software for the quality control and preliminary processing of the airborne geophysical data. Daily quality control of acquired data will be undertaken in the field by EGL's on-site crew. Data will also be transmitted daily to EGL's processing facility in Toronto, Canada.

Quality control information may then be confirmed by EGL and relayed back to the field crew on a regular basis. The survey is planned to cover an area of 400km2 on 400m spaced lines and will assess the potential for the accumulation of magmatic sulphides related to the NYT intrusions and provide the ability to assess the deeper, or non-outcropping, parts of the LMT intrusion complex. The purpose of the is to optimise the definition of anomalies of potential importance, by providing direct detection of conductors with a greater depth of investigation to aid in resolving the geological context of the intrusion complexes.

The airborne survey will be followed up by ground based NSAMT surveys in advance of the planned 2023 drilling program.