Charger Metals NL advised that assay results from the maiden drill programme, targeting spodumene-pegmatites at the Medcalf Spodumene Discovery within the Company's Lake Johnston Lithium Prospect in the Yilgarn province of Western Australia, have returned high-grade lithium intersections in 14 of the 17 holes drilled in 2022. The Lake Johnston Lithium Project is located 450km east of Perth, Western Australia. Charger recently announced the acquisition the minority interest to move from a 70% to 100% interest in this Project 7. Lithium prospects occur within a 50km long corridor along the southern and western margin of the Lake Johnston granite batholith.

Key prospects include the advancing Medcalf Spodumene Discovery and much of the Mount Day LCT pegmatite field, prospective for lithium and tantalum minerals. The Lake Johnston Lithium Project has attracted considerable interest due to its proximity to the large Earl Grey Lithium Project under development by Covalent Lithium Pty Ltd. (manager of a joint venture between subsidiaries of Sociedad Química y Minera de Chile S.A. and Wesfarmers Limited) located approximately 70km west of the Lake Johnston Project. Mt Holland is understood to be one of the undeveloped hard-rock lithium projects in Australia with Ore Reserves for the Earl Grey Deposit estimated at 189 Mt at 1.5% Li2O8.

The Bynoe Project occurs within the Litchfield Pegmatite Field, approximately 35 km southwest of Darwin, Northern Territory, with nearby infrastructure and excellent all-weather access. Charger's Project is enclosed by Core Lithium Limited's Finniss Lithium Project, which has a mineral resource of 15Mt at 1.3% Li2O9. Core Lithium, which has a $1.9B market capitalisation, has opened its mine just 7 km north of Charger's Bynoe Lithium Project.

Geochemistry, aeromagnetic programmes and open file research completed by Charger suggests multiple swarms of LCT pegmatites that extend from the adjacent Finniss Lithium Project into the Bynoe Project. Geochemistry results highlight two large LCT pegmatite target zones, with significant strike lengths of 8km at Megabucks and 3.5km at 7-Up. Numerous drill-ready lithium targets have been identified within each pegmatite zone.

Planning and permitting for the maiden drill programme at Bynoe is complete. Prospective for nickel and platinum group elements at the Coates Project was indicated by Ni, Cu, Au and PGE geochemistry anomalies with coincident EM conductors. The Project is approximately 29 kilometres SE of Chalice Mines Limited's significant Julimar Ni Cu Co PGE discovery.