Firetail Resources Limited provided an update on exploration activities at its Yalgoo Lithium Project, in Western Australia. The Company has received further endorsement for the Yalgoo Project's potential to host significant Lithium- Caesium-Tantalum (LCT) pegmatites, by the confirmation of a large-scale +25 kilometre extensive "Goldilocks Zone" in regional geological datasets. The extensive "Goldilocks Zone" encompasses and is supported by historic high-grade rock chip samples of up to 3.75% Li2O, and Firetail's recent mapping and geochemical sampling that has identified fertile LCT pegmatites.

The "Goldilocks Zone" is known as a defined corridor in which LCT pegmatites exist. This zone is outboard of the granitic terrain and within Greenstone belts. Research indicates that all economic spodumene deposits, globally, lie within this "Goldilocks Zone".

To date, detailed mapping and sampling has been completed over an area of approximately 2.5km by 2.0km at the Yalgoo Project. A total of 231 rock chip samples of various rock types were collected in the second phase of mapping, predominantly pegmatite and quartz bearing veins, with some samples also taken from granitic material. The assay results were sent to consulting geochemist, Nigel Brand, to review and classify into rock types by using multi-element geochemical ratios.

Geochemical classification of rock chip assay data using lithium: magnesium ratios has defined samples as being predominantly fertile granite, LCT pegmatite and fractionated granite, with results indicating pegmatite fertility and confirming the presence of a lithium- bearing system. Of significance to note is that 19 of the Phase 2 mapping rock chip samples have been classified as LCT pegmatite, with these samples located in areas outside of those previously identified as containing LCT pegmatites. These new results are very encouraging and provide valuable information that will be used to optimise the design of the first pass drilling program.

A review of the Yalgoo Project's regolith from publicly available datasets has highlighted that it is amenable to conventional soil sampling, which the Company proposes to employ as a first pass exploration technique to define areas of interest for LCT pegmatites. Soil sampling will be undertaken on a 400 metre by 100 metre grid across the "Goldilocks Zone", with the results from this regional soil geochemistry expected to highlight target areas for follow up. The Company intends to undertake first pass geochemical analysis of soil samples using a Portable XRF Analyser (pXRF).

Although lithium itself cannot be detected by a pXRF, an algorithm based on associated LCT elements can be used to estimate the Li content (Lithium Index). This will be a faster and more cost-effective method of identifying areas with anomalous Li, and this can be used to focus future exploration work programs. Follow up exploration work programs will include infill soil sampling, mapping and rock chip sampling, potential acquisition of geophysical datasets and drill testing of high priority targets. The Company is close to commencing its maiden drilling campaign at the Yalgoo Project, testing for the presence of LCT mineralisation, as confirmed by classification of surface geochemical sampling.

Next steps and activities planned for the Yalgoo Project include: Heritage Survey - commenced, due for completion within a week Earthmoving for drilling access - to commence in the coming weeks Maiden RC drilling campaign- to commence in coming weeks Orientation soil sampling program (200m x 50m) - complete, assay results pending Regional soil sampling program (400m x 100m) across identified large-scale "Goldilocks Zones" at Yalgoo - planned to commence after Phase 1 drilling complete. Target generation - review geochemistry and first pass drilling to define and rank high-priority targets, and plan follow-up work programs.