Auroch Minerals Limited announced the discovery of high grade lithium mineralisation in reverse circulation (RC) drill-hole samples at the Nepean Nickel Project in Western Australia (Auroch Minerals 80%, Lodestar Minerals Ltd. 20%). Drilling at the Nepean North Prospect was completed in Third Quarter 2022 which consisted of two reverse circulation (RC) holes for 539m to test an IP anomaly for nickel sulphide mineralisation. All geologically logged pegmatites intercepted by the two RC holes were submitted for re-assay for LCT mineralisation via a sodium peroxide fusion and Inductively Coupled Plasma - Atomic Emission Spectroscopy (ICP-AES) as part of the Company's ongoing investigation into the project's lithium potential.

The field geologists identified a six metre thick pegmatite in NPRC084 between 198-204m (down-hole depth) and a series of thinner pegmatites in NPRC085 from 143m, all of which were submitted for re- assay. The high grade lithium results in hole NPRC084, combined with re-logging of the 6m pegmatite interval, confirmed the presence of the lithium pyroxene mineral spodumene (the principal lithium ore mineral). Significant results include: 6m @ 1.38% Li2O from 198m, including 2m @ 3.26% Li2O from 198m (NPRC084); 3m @ 0.36% Li2O from 165m, including 1m @ 0.52% Li2O from 167m (NPRC085); and 4m @ 0.29% Li2O from 242m (NPRC085).

Significantly, the two holes were drilled approximately 150m apart, approximately 420m north of the previously reported lithium result in NPRC058 consisting of 1m @ 0.88% Li2O from 78m,2 which suggests potential LCT-enriched pegmatites over a significant strike length at the Nepean North Prospect. The Company will immediately commence a high priority exploration programme to potentially delineate further high grade spodumene mineralisation. To commence immediately: Thorough ground mapping and sampling programmes over the Nepean North area in search of any unmapped outcropping or sub-cropping pegmatites; Further geochemical investigations to vector towards thicker intercepts of LCT pegmatites; and Planning and permitting for follow up RC drilling and potential for select stratigraphic diamond drilling to understand the potential strike and orientation of these LCT- enriched pegmatites.