Firetail Resources Limited provided an update on exploration activities at its Yalgoo Project in Western Australia and Mt Slopeaway Project in Queensland, Australia with the following highlights: Earthworks now underway to provide access for maiden drilling program at Yalgoo Lithium Project, KTE Drilling appointed and set to commence drilling at Yalgoo Lithium Project next week, Construction of access tracks and drill pads completed at Mt Slopeaway Ni-Co-Mn Project, Depco Drilling appointed as drilling contractor for Mt Slopeaway, with drilling intended to commence by the end of October. Firetail has secured the services of KTE Drilling to carry out the maiden lithium focused drilling program at Yalgoo. KTE is an experienced drilling contractor in the Yalgoo-Dalgaranga region and they are scheduled to mobilise to site and commence drilling at Yalgoo next week.

The design of Yalgoo Phase 1 RC drilling program is complete and comprises 45 RC holes for 2,000 metres. Site earthworks are well underway in preparation with drill program. Figure 1 displays proposed drill holes in relation to the recently completed Heritage Survey, detailed surface mapping and rock chip sampling.

Rock chip samples have been classified for LCT prospectivity using geochemical ratios developed by consulting geochemist, Nigel Brand. Refer to ASX releases dated 8 August 2022 and 30 August 2022 for further detail on mapping and rock chip sampling completed at the Yalgoo Lithium Project. Mt Slopeaway is a relatively flat-lying nickel-cobalt-magnesium bearing lateritic deposit developed in the regolith, over serpentinised ultramafic country rock.

The manganese-cobalt-nickel mineralisation is present within the laterite profile. The geological model developed indicates a manganese-cobalt- nickel nodule layer at the base of the limonite section. Site earthworks have now been completed and historical drill collars identified in preparation for the verification QAQC drilling program that is planned to commence by the end of the month.

Experienced local drilling contractor, DEPCO Drilling, has been engaged to complete the phase 1 drilling program at Mt Slopeaway. 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 @ 1% Ni, 0.2% Co, 1% Mn.