Firetail Resources Limited provided an update of its activities and next steps for each of its projects. An initial reconnaissance trip and Phase 1 detailed mapping have been completed by Firetail's technical team. This work has been successful in identifying and further extending known pegmatite occurrences at the Project.

The Company is encouraged by geological observations taken from multiple pegmatite dyke swarms which outcrop over an extensive area of the project. An inspection of historical lithium prospects known as "Lithium Show" and "Lithium Show South" has confirmed that these pegmatite occurrences are strike extensive, and in some instances can be mapped at surface over several hundred metres. While several pegmatite dyke swarms have been identified at the Project, there is considerable variability and zonation in the mineralogy of these bodies.

Understanding the geochemical zonation and structural controls on these pegmatite bodies will be key in defining the areas most prospective for lithium mineralisation. Improved understanding on mineralisation controls from surface mapping has faciliated the design of first-pass RC drilling to test the orientation and extent of outcropping pegmatite bodies. A second expanded mapping campaign is currently in progress.

A Permit of Work (PoW) approval has been received for the Yalgoo Lithium Project and preparations are now underway for the initial drill program, with a Heritage Survey soon to be completed. MT SLOPEAWAY NICKEL-COBALT-MANGANESE PROJECT: Reconnaissance Trip Complete & Phase 1 Drill Planning Underway- Preparation for a first phase reverse circulation (RC) drilling program is underway, with further work to be undertaken in verifying the locations of historical drill collars ahead of planned twin drilling. Environmental permitting and land access approvals have been finalised to enable the refurbishment of existing tracks and drill platforms to provide access to proposed drilling locations.

Phillip Mackenzie, an experienced local geologist, has been engaged as Senior Exploration Geologist to assist with exploration activities at the Mt Slopeaway Project, and will be responsible for planning and implementing drilling and other exploration work programs at the Project. The Mt Slopeaway region is considered to be relatively underexplored by modern day techniques, and there is undoubtedly significant potential, both within and outside the current tenure held by Firetail. The Company will continue to assess any potential project or land acquisitions in the area should they be a suitable fit for the Company's project portfolio.

PATERSON COPPER-GOLD PROJECT- Desktop Studies and Target Generation Advancing: The Firetail technical team has been undertaking comprehensive desktop studies for the Paterson Project, with preliminary work including the compilation of data from open-file mineral exploration reports. Information compiled to date includes data from geophysical and geochemical surveys, with over 22,000 surface geochemical data points now integrated into a master GIS database. Compilation of these datasets has enabled a geochemical prospectivity assessment for several minerals, with areas prospective for Cu, Au, Mo, Pb, Zn and Li identified within the central leases of Firetail's Paterson Project.

A significant volume of geophysical surveys have been conducted at the Paterson Project by previous landholders and the Company is currently assessing the suitability of these surveys as a dataset to refine its prioritisation of exploration targets. The Company has analysed a selection of high priority geophysical datasets, with a 2.5D inversion model of the TEMPEST airborne electromagnetic (AEM) now complete. 2.5D inversion modelling of the TEMPEST AEM survey will provide an extensive and valuable dataset to use in conjunction with geochemical data for the evaluation of multiple commodities at the Paterson Project and determining the next steps.

Next Steps: In the coming months, the Company intends to undertake the following activities and looks forward to providing further updates to shareholders as each project progresses: Yalgoo - Dalgaranga Lithium Project Continuation of detailed surface mapping, Receipt and interpretation of surface geochemical multilelement data, Hertitage Survey for drilling activities, Establishment of access tracks and drill pads, First Phase drill program, Mt Slopeaway Nickel-Cobalt Project: Refurbishment of access tracks to allow access to historical drill sites Phase 1 RC drilling: to verify historical drilling completed in 1960's by BHP, to provide QAQC data for upgrade of current JORC 2012 Inferred Resource of 4Mt at 1.0% Ni, 0.2% Co, 1.0% Mn. Phase 2 RC and diamond drilling: Infill drilling to upgrade the current Inferred Resource classification, Extensional drilling to potentially expand the current Inferred Resource Metallurgical testwork & Scoping Studies Paterson Copper-Gold Project Continue advancing data compilation and desktop studies to define and rank exploration targets Review appropriate exploration techniques to assess high priority targets, Assess environmental and Native Title considerations as part of exploration activities.