Red Dirt Metals Limited announced an update for its wholly owned Mt Ida Lithium Project ("Mt Ida") in the Eastern Goldfields region of Western Australia. As announced on 19 October 2022, Mt Ida has a global resource base of 12.7Mt @ 1.2% Li2O and the Company is fast tracking the development of this resource base. This fantastic drilling intercept from Sister Sam (Table 1) is the first received since resource estimation work completed in October 2022.

Drilling up until the end of 2022 was predominantly focused on sample collection for metallurgical test work and RC drill pre-collars. This result, alongside the priority AC anomalies detected, demonstrates the significant growth potential at Mt Ida. The Company continues to progress diamond drilling as well as infill and expansion RC drilling programs across the Mt Ida Lithium Project.

More than 20 intercepts are with the labs undergoing analysis with expected results in the next 6-12 weeks. The planned drill programs will cover more than 200 holes and 60,000m throughout 2023. Four priority AC anomalies have been identified in regional AC drilling designed to detect low tenor "host rock hanging wall" lithium anomalism and these will be followed up by RC drilling and likely to be reported in the June Quarter.

The Sister Sam pegmatite is one of three pegmatite resource zones defined at Mt Ida. Drill hole IDRD077W2 was designed to increase the resource confidence from Inferred to Indicated. The drill angle is perpendicular to the pegmatite and can be considered as true width and is the best drill intercept ever received at the Mt Ida Lithium Project.

The Company has also completed two (2) additional diamond tails to this hole, and each intersected the Sister Sam pegmatite, and has plans to complete numerous infill and extension holes at the Sister Sam, Timoni and Sparrow pegmatites to increase both the confidence and size of the resource. A program of AC drilling was targeted to follow up on regional soil sampling undertaken in H1 2022. The AC drilling was broad spaced and designed to detect the low tenor anomalism (60-240ppm Li) typically found in the host greenstone rocks up to 100m into the hanging wall of the pegmatites at Mt Ida.

A 100ppm anomaly in greenstone could indicate a significant Li bearing pegmatite in close proximity and warrants follow up RC work. The AC drilling has detected four lithium anomalies all found in the same geological position as the Sister Sam, Timoni and Sparrow pegmatites. These near surface targets will be tested with RC drilling and the results will be likely be reported in the June quarter.