Corella Resources Ltd. announced the outstanding assay results from the Company's aircore drilling program completed at its 100% owned Tampu Project. Significant intercepts from the 2022 aircore drilling include: CRAC120: 16m @ 48.0% SiO2; 37.8% Al2O3; 0.23% Fe2O3; 0.24% K2O; 0.02% Na2O & 0.3% TiO2 from 4m, CRAC121: 10m @ 48.3% SiO2; 37.7% Al2O3;0.26% Fe2O3; 0.21% K2O; 0.00% Na2O & 0.3% TiO2 from 4m, CRAC124: 8m @ 48.5% SiO2; 37.3% Al2O3; 0.33% Fe2O3; 0.19% K2O; 0.00% Na2O & 0.4% TiO2 from 2m, CRAC122: 9m @ 47.7% SiO2; 37.9% Al2O3; 0.34% Fe2O3; 0.20% K2O; 0.01% Na2O & 0.3% TiO2 from 4m, CRAC126: 5m @ 48.4% SiO2; 37.2% Al2O3; 0.37% Fe2O3; 0.25% K2O; 0.02% Na2O & 0.4% TiO2 from 6m, CRAC127: 4m @ 48.7% SiO2; 37.0% Al2O3; 0.38% Fe2O3; 0.29% K2O; 0.02% Na2O & 0.5% TiO2 from 3m, CRAC118: 12m @ 47.9% SiO2; 37.8% Al2O3; 0.40% Fe2O3; 0.15% K2O; 0.02% Na2O & 0.2% TiO2 from 7m, CRAC117: 10m @ 50.4% SiO2; 35.9% Al2O3; 0.48% Fe2O3; 0.23% K2O; 0.02% Na2O & 0.3% TiO2 from 7m. CRAC130: 8m @ 47.4% SiO2; 38.1% Al2O3; 0.38% Fe2O3; 0.28% K2O; 0.01% Na2O & 0.3% TiO2 from 7m, CRAC131: 6m @ 50.0% SiO2; 36.7% Al2O3; 0.58% Fe2O3; 0.27% K2O; 0.02% Na2O & 0.5% TiO2 from 9m, CRAC134: 7m @ 49.7% SiO2; 35,6% Al2O3; 0.83% Fe2O3; 0.82% K2O; 0.05% a2O & 0.4% TiO2 from 14m.

During October 2022 Corella completed 21 aircore drillholes for a total of 381m consisting of 14 Resource Definition drillholes and 7 Exploration drillholes1. All 21 aircore drill hole samples were analysed by Bureau Veritas in Canningvale, WA. The results from Resource Definition aircore drillholes, along with the results from the 2022 Sonic core drilling2, will be compiled by CSA Global to upgrade the existing Tampu Inferred Mineral Resource Estimate of 24.7Mt of kaolin3 into Indicated/Measured categories.

The upgraded Mineral Resource Estimate will underpin a Scoping Study for the Project which will include options for supply into traditional markets along with a focus on HPA markets. The exceptional assays results recently achieved from the Aircore and Sonic drill programs at Tampu bodes well for further advancement in the development of HPA specific to the Tampu high purity bright white kaolin. The Company has already exceptional HPA results from bulk scale composite 2021 aircore samples which achieved 99.99957% Al2O3 (5N+) purity4.

The Company is fast-tracking planning of a test pit at Tampu to provide multiple bulk scale samples for numerous potential offtake partners. In-situ samples from a test pit will provide definitive samples at a bulk scale allowing for advancement of offtake discussions. Tampu has the potential to become a long term source of the highest purity kaolin/HPA globally and is Corella's first kaolin deposit defined at the Project.

There is substantial potential for future growth as demonstrated by recent drilling success at the nearby Whitecap and Whitehills prospects.