Mount Ridley Mines Ltd. provide the following update on its 100% owned Mount Ridley Project. Laterally extensive rare earth element (REE[2]) deposits identified at 100% owned Mount Ridley Project, located from 35 km northeast of the port of Esperance, Western Australia. Model is ionic adsorption clay. Re-assay of 950 air core samples (162 pending) returned significant REE values over an apparent strike in excess of 25 km with over 20 samples returning >1,000 ppm TREO. Mineralisation remains open in all directions with a peak value so far at the Keith's Prospect from MRAC0711 with 10,461ppm (1.05%) from 23m downhole. A comprehensive geological and litho-geochemical study has commenced to identify underlying rocks and their role as a source of REE, and therefore controls to REE ore genesis. Concurrently, drilling programmes for up to 25,000m are being planned. Aircore drilling will be used to determine extensions of known mineralisation; reverse circulation drilling will be used for the Mineral Resource drill-out, and diamond or sonic drilling will be used to provide in-tact regolith for geotechnical and metallurgical testing. Heritage, flora, and fauna Surveys will be updated over the coming months as required, focusing on the identified target areas and extensions to known REE mineralisation. Early-stage mineralogy and metallurgical test work will be carried out using material generated from the upcoming drilling. This is considered critical in determining the nature and extractability of the REE mineralisation. The Mount Ridley Project is located from approximately 35 kilometres northeast of the deep-water port of Esperance, a town with approximately 12,000 people and a hub for tourism, agriculture, and fishing (figure 8). The Port exports minerals including nickel sulphide, iron ore and spodumene. The Project is approximately 20 kilometres east of the sealed Goldfields Esperance Highway and infrastructure corridor which includes the Kalgoorlie-Esperance railway line and gas pipeline. The Esperance airport is located at Gibson Soak, approximately 20 kilometres from the Project. The Company holds three granted exploration licences and 6 exploration licence applications. Granted tenure is 454 km2 and tenement applications total 2950 km2. REE mineralisation is interpreted as large, horizontal sheet-like lenses that occur from near surface to as deep as 89m. REE mineralisation occurs consistently within the in-situ saprolite clay horizon. Patchy lower grade zones occur within transported cover which may vector towards stronger REE mineralisation deeper within the regolith.