Dakota Minerals Limited provided an update on its 100% owned Sepeda Lithium Project, Portugal. Results for the phase two Reverse Circulation drilling completed in December 2016 have now been received. Results include 61 m at 1.52% Li2O and 16 m at 1.25% Li2O from SC024, for a total downhole mineralised intercept from two pegmatites of 77 m at 1.46% Li2O, as well as 51 m at 1.26% Li2O from SC021. Modelling for the maiden Mineral Resource Estimate is under way and on track for delivery in first quarter of 2017. Further RC drilling on the Sepeda Project at Romano, and other pegmatites within the Carvalhais Pegmatite Swarm, will commence late February 2017, the results of which will be used in future resource updates. Phase Two Drilling Summary: Dakota's recently completed phase two drilling programme totalled 5,181 m, comprised of 282m of diamond drilling and 4,899m of reverse circulation (RC) drilling. The RC and diamond drilling programme was conducted by SPI SA, utilizing three rigs (two RC and one diamond) to carry out the work. Holes at Romano were drilled on 80m spaced sections, over approximately 800m of strike, with holes spaced at 50m centres along sections. Holes drilled at other prospects varied between a single reconnaissance hole to 40 x 50m spaced sectional drilling. Drill holes were logged and samples were dispatched to Nagrom Laboratories for analysis in Perth. All RC sample assay results have now been received, with results for diamond drill samples still pending. Very wide, well-mineralised intersections of petalite-bearing pegmatite were reported on multiple sections, including 61 m at 1.52% Li2O and 16 m at 1.25% Li2O from SC024 for a total downhole mineralised intercept from two pegmatites of 77 m at 1.46% Li2O, and 50 m at 1.24% Li2O from SC021. Phase three RC and diamond drilling, commencing in late February 2017, will include extensional resource development and infill drilling at the Romano pegmatite, to be included in a resource update later in the year; Reconnaissance drilling of other pegmatites within the Carvalhais Pegmatite Swarm at Sepeda, including resource definition drilling where appropriate; and large diameter core for further ore body characterisation metallurgical test work.