Element 25 : Butcherbird Resource Infill Drilling Assays Received

ASX ANNOUNCEMENT

23 January 2019

Butcherbird Resource Infill Drilling Programme Assays Received

Highlights

• • All assay results now received and compiled from the Butcherbird Resource infill drilling programme.

• • Results will underpin a resource upgrade in preparation for Pre-Feasibility Study and maiden Reserve.

• • Infill designed to target 25% Measured and 75% Indicated Resources over initial 20 year mine plan.

• • IHC Robbins appointed to complete the resource upgrade which is currently in progress.

• • Results in line with expectations in terms of geology, grades and thicknesses of mineralisation.

Element 25 Limited ("E25" or "Company") is pleased to advise that assay results from resource infill drilling at the Company's 100% owned Butcherbird High Purity Manganese Project have been received and compiled.

The resource infill drilling programme comprised 210 aircore holes for a total of 6,672m. The drilling was completed in late 2018. The results from the programme will form the basis of a revised mineral resource estimate which is expected to upgrade the planned starter pit area from Inferred and Indicated to Indicated and Measured categories as a basis for a maiden reserve, expected to be published with the PFS.

The assay results and geological logging of the drill holes both compare favourably with the existing drilling data in terms of geology as well as mineralised widths and grades of the ore zone, confirming the robustness of the current understanding of the deposit. Refer to Appendix 1 for atabulation of the results.

Figure 1:X350 track mounted aircore drilling rig.

Company Snapshot

ASX Code: Shares on Issue: Share Price:

Market Capitalisation:

E25 83.5M $0.185 $15.4MBoard of Directors: Seamus Cornelius Justin Brown John RibbonsChairman ED

NED

Element 25 Limited is developing the world class Butcherbird manganese project in Western Australia to produce high purity manganese sulphate for lithium ion batteries and electrolytic manganese metal.

Element 25 Limited P [phone]

Level 2, 45 Richardson Street, West Perth, WA, 6005

[e-mail] element25.com.au

PO Box 910 West Perth WA 6872 Australia

IHC Robbins have been appointed to undertake the updated mineral resource estimate for the Yanneri Ridge Deposit which is the target area for ore supply to the proposed high purity manganese processing plant the subject of the PFS. IHC Robbins are part of the Royal IHC Group and provide multi-disciplinary mining and geological services to a range of clients both in Australia and overseas.

Figure 2:Completed infill drilling collar locations in relation to the previous drilling, Yanneri Ridge and Coodamudgi resource outlines and infrastructure.

About the Butcherbird High Purity Manganese Project

The Butcherbird High Purity Manganese Deposit is a world class manganese resource with current JORC resources in excess of 180Mt of manganese ore1. The Company has completed a positive scoping study with respect to developing the deposit to produce high purity manganese sulphate for lithium ion battery cathodes as well as Electrolytic Manganese Metal for use in certain specialty steels. A PFS is currently being completed and is expected to further confirm the commercial potential of the project.

The Butcherbird Project straddles the Great Northern Highway and the Goldfields Gas Pipeline providing turnkey logistics and energy solutions. The Company is also intending to integrate renewable energy into the power solution to minimise the carbon intensity of the project as well as further reducing energy costs.

Justin Brown

Executive Director

Company information, ASX announcements, investor presentations, corporate videos and other investor material on the Company's projects can be viewed at:http://www.element25.com.au.

1 Reference: Company ASX release dated 12 October 2017 (released under the Company's previous ticker MZM)

Element 25 Limited	Level 2, 45 Richardson Street,
P [phone]	West Perth, WA, 6005
[e-mail]	PO Box 910 West Perth WA 6872
element25.com.au	Australia

Appendix 1 - Tabulated Drilling Results

Significant intercepts from the resource infill drilling programme at the Yanneri Ridge manganese deposit are tabulated below. Assays are composited based on a cut-off grade of 10% Mn with up to 4m of consecutive 1m intervals below this limit in the composite.

Hole ID	Easting (GDA94)	Northing (GDA94)	RL	Dip	Total Depth	Depth From	Significant Intercept
BBAC00001	774099.24	7297849.54	636.31	-90	45	6	23m @ 11.56% Mn
BBAC00002	774100.73	7297949.4	632.8	-90	42	7	10m @ 14.26% Mn
BBAC00003	774103.38	7298150.93	627.46	-90	42	5	24m @ 11.86% Mn
BBAC00004	774151.59	7298198.9	626.77	-90	40	2	28m @ 11.95% Mn
BBAC00005	774149.77	7298153.17	627.72	-90	40	1	28m @ 11.71% Mn
BBAC00006	774150.6	7298101.85	629.17	-90	40	6	18m @ 12.68% Mn
BBAC00007	774148.28	7298052.87	631.08	-90	38	0	22m @ 11.3% Mn
BBAC00008	774149.1	7298026.18	631.99	-90	38	4	16m @ 13.23% Mn
BBAC00009	774150.94	7298001.46	632.4	-90	36	0	17m @ 12.93% Mn
BBAC00010	774148.88	7297953.27	633.5	-90	36	1	24m @ 10.21% Mn
BBAC00011	774150.7	7297973.53	632.82	-90	36	8	10m @ 12.73% Mn
BBAC00012	774150.16	7297922.99	634.67	-90	36	2	14m @ 11.18% Mn
BBAC00013	774152.68	7297894.99	635.42	-90	40	0	27m @ 10.68% Mn
BBAC00014	774149.75	7297851.51	635.81	-90	40	3	18m @ 14.26% Mn
BBAC00015	774151.34	7297799.81	638.57	-90	40	0	15m @ 14.04% Mn
BBAC00016	774149.41	7297752.58	639.41	-90	41	1	7m @ 11.95% Mn
BBAC00017	774197.72	7297853.26	637.83	-90	40	0	18m @ 13.37% Mn
BBAC00017	774197.72	7297853.26	637.83	-90	40	24	3m @ 10.47% Mn
BBAC00018	774199.91	7297926.18	635.66	-90	36	0	17m @ 13.41% Mn
BBAC00019	774199.75	7297949.93	634.88	-90	36	0	15m @ 12.02% Mn
BBAC00020	774198.87	7297975.76	633.97	-90	36	6	13m @ 13.02% Mn
BBAC00021	774197.9	7298029.09	632.52	-90	36	2	23m @ 11.27% Mn
BBAC00022	774199.32	7298053.98	631.7	-90	36	5	16m @ 12.89% Mn
BBAC00023	774197.54	7298148.84	628.58	-90	36	2	24m @ 11.39% Mn
BBAC00024	774248.46	7298197.17	627.34	-90	40	7	2m @ 11.85% Mn
BBAC00024	774248.46	7298197.17	627.34	-90	40	14	16m @ 12.65% Mn
BBAC00025	774248.64	7298147.48	628.85	-90	40	0	25m @ 11.96% Mn
BBAC00026	774248.19	7298094.82	630.33	-90	36	3	21m @ 11.89% Mn
BBAC00027	774247.64	7298047.15	631.69	-90	36	5	17m @ 14.59% Mn
BBAC00028	774250.12	7298024.52	632.41	-90	34	5	15m @ 12.68% Mn
BBAC00029	774247.21	7297996.29	633.29	-90	36	4	14m @ 11.95% Mn

Element 25 Limited	Level 2, 45 Richardson Street,
P [phone]	West Perth, WA, 6005
[e-mail]	PO Box 910 West Perth WA 6872
element25.com.au	Australia

Hole ID	Easting (GDA94)	Northing (GDA94)	RL	Dip	Total Depth	Depth From	Significant Intercept
BBAC00030	774248.18	7297971.41	634.18	-90	36	0	17m @ 11.35% Mn
BBAC00031	774248.3	7297945.73	635.09	-90	36	5	7m @ 15.01% Mn
BBAC00032	774250.92	7297923.65	635.66	-90	40	6	15m @ 12.43% Mn
BBAC00033	774247.76	7297894.8	636.59	-90	40	6	11m @ 13.09% Mn
BBAC00034	774247.26	7297846.29	638.6	-90	40	4	12m @ 16.47% Mn
BBAC00035	774247.98	7297798.39	640.19	-90	40	0	15m @ 13.89% Mn
BBAC00035	774247.98	7297798.39	640.19	-90	40	21	3m @ 11.5% Mn
BBAC00036	774248.05	7297750.36	640.12	-90	45	10	3m @ 11.47% Mn
BBAC00036	774248.05	7297750.36	640.12	-90	45	18	2m @ 12.6% Mn
BBAC00037	774301.63	7297850.27	637.39	-90	45	4	13m @ 14.36% Mn
BBAC00037	774301.63	7297850.27	637.39	-90	45	26	2m @ 13.4% Mn
BBAC00038	774298.01	7297926.61	633.83	-90	40	1	15m @ 13.93% Mn
BBAC00039	774296.84	7297948.59	633.34	-90	36	0	19m @ 13.84% Mn
BBAC00040	774299.03	7297974.53	632.82	-90	36	7	9m @ 12.41% Mn
BBAC00041	774302.08	7298028.2	631.63	-90	36	2	17m @ 14.12% Mn
BBAC00042	774297.78	7298049.35	631.22	-90	34	1	20m @ 13.5% Mn
BBAC00043	774298.1	7298149.61	628.57	-90	36	2	23m @ 12.54% Mn
BBAC00044	774345.59	7298195.36	626.98	-90	24	4	20m @ 11.58% Mn
BBAC00045	774347.38	7298148.6	627.99	-90	34	1	23m @ 11.57% Mn
BBAC00046	774347.43	7298099.81	629.23	-90	34	5	19m @ 11.94% Mn
BBAC00047	774348.41	7298049.68	630.01	-90	32	0	20m @ 12.75% Mn
BBAC00048	774351.48	7298024.38	630.35	-90	30	0	17m @ 12.42% Mn
BBAC00049	774347.43	7298000.29	630.58	-90	30	0	16m @ 14.08% Mn
BBAC00050	774349.53	7297976.93	630.71	-90	34	1	17m @ 14.26% Mn
BBAC00051	774349.26	7297948.68	631.08	-90	38	0	19m @ 14.74% Mn
BBAC00052	774347.42	7297925.18	631.12	-90	40	0	16m @ 15.4% Mn
BBAC00053	774349.93	7297901.42	632.08	-90	40	1	16m @ 13.84% Mn
BBAC00054	774355.02	7297849.57	636.06	-90	40	3	12m @ 17.13% Mn
BBAC00055	774349.44	7297799.16	636.7	-90	42	0	13m @ 13.59% Mn
BBAC00058	774448.04	7297806.67	630.66	-90	40	0	9m @ 11.86% Mn
BBAC00059	774397.78	7297850.59	633.64	-90	42	0	15m @ 13.32% Mn
BBAC00060	774400.45	7297946.45	629.41	-90	42	0	18m @ 12.79% Mn
BBAC00061	774400.91	7298047.51	627.98	-90	36	0	17m @ 13.35% Mn
BBAC00062	774397.11	7298146.73	627.22	-90	36	0	21m @ 12.36% Mn
BBAC00063	774447.13	7298150.94	626.37	-90	36	1	20m @ 12.34% Mn
BBAC00064	774449.87	7298102.25	626.58	-90	36	1	17m @ 12.55% Mn
BBAC00065	774448.12	7298051.73	626.49	-90	36	1	18m @ 13.12% Mn

Element 25 Limited	Level 2, 45 Richardson Street,
P [phone]	West Perth, WA, 6005
[e-mail]	PO Box 910 West Perth WA 6872
element25.com.au	Australia