Over recent months, Marmota has carried out an extensive review of Rare Earth Element (REE) anomalies over Marmota's extensive Western Gawler Craton tenements [ see Figure 1 ], including analysis of historical drilling, chip trays and core library samples. The combination of rare earth mineral-bearing Archaean basement and overlying tertiary regolith cover have provided large areas which are geologically highly prospective for potentially economic regolithic clay-hosted ionic REE deposits within Marmota's tenement holding.

Marmota has highlighted at least 4 distinct zones that it considers to be highly prospective for Rare Earths, including the recent discovery of Rare Earths on Marmota's tenement boundary [ASX:MEU: 26 April 2022 ]. All 4 zones will be tested. The first of the 4 zones to be drill tested is the Muckanippie tenement [ Fig. 1 ]. Marmota is very pleased to announce today that

Marmota Chairman, Dr Colin Rose, said: ' Marmota is delighted to be commencing our first REE program. Marmota will now have two drill teams and two drill rigs running simultaneously: an RC rig drilling at Aurora Tank and Comet for our gold program which is progressing very well, and another rig at the Muckanippie and Bradman tenements for REE. Drilling is expected to continue at both sites until the Xmas break.

Contact:

Marmota Limited

Dr Colin Rose

Executive Chairman

Email: colin@marmota.com.au

About Marmota Limited

Marmota Limited (ASX: MEU) is a South Australian mining exploration company, focused on gold, copper and uranium. Gold exploration is centred on the Company's dominant tenement holding in the highly prospective and significantly underexplored Gawler Craton, near the Challenger gold mine, in the Woomera Prohibited Defence Area. The Company's copper project is based at the Melton project on the Yorke Peninsula. The Company's uranium JORC resource is at Junction Dam adjacent to the Honeymoon mine. For more information, please visit: www.marmota.com.au

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