Armada Metals Limited announced that preliminary modelling of the MobileMT datasets has identified multiple preliminary targets which are consistent with the Company's regional mapping of the Nyanga Project intrusions. These new targets will be used to design future ground-based NSAMT surveys at the Nyanga Magmatic Ni-Cu Project, Gabon. The MobileMT survey directly measures resistivities and was designed to detect the potential for apparent conductors.

The lowest resistivity values, ranging between 100-400 ohm-m, are considered significant by the technical team. Further comprehensive data analysis will continue over the coming weeks. The preliminary interpretations and targeting will be reviewed using the company's magmatic sulphide targeting toolkit to complete detailed regional target selection including the prioritisation of target areas.

The targets will be assessed and ranked based on the company's extensive geophysical, rock, and geochemical datasets. A series of ground NSAMT surveys will be completed on individual prioritised targets resulting from the more detailed MobileMT data interpretation ahead of drilling testing. Drilling will be focused on testing the Company's higher priority modelled NSAMT targets for the potential occurrence of accumulated magmatic sulphides and Ni-Cu mineralisation.

Drilling is expected to commence during the 2023 field season after the heavy rains.