Reach Resources Limited reported significant preliminary results from handheld XRF testing (pXRF) from a recent reconnaissance site visit undertaken at the Company's Gascoyne projects. The brief field trip was undertaken over two days at the Wabli Creek (E09/2377) and Skyline (E09/2646) tenements, to primarily evaluate tenement accessibility and target areas accessible from existing station tracks. Highlighted target areas were identified from available radiometric and geochemistry data.

Access to the Yinnietharra tenement (E09/2354) was not available at the time due to the pastoralist's mustering activities, so sampling could not be completed at this tenement. The Skyline project is located ~20km to the east and the Wabli Creek and Yinnietharra projects are located ~80km south of the Hastings Technology Metals Limited Yangibana REE development respectively, which has a current Ore reserve of 16.7Mt at 0.95% TREO for 158Kt. The Hastings Yangibana REE deposit and recent exploration activities/discoveries made in the surrounding areas by other explorers including Dreadnought Resources, Lanthanein Resources and Kingfisher Mining, reinforces the potential of the region for REE mineralisation.

The location of historical surface sampling within the Wabli project area which returned highly significant results including 12.4% Ta2O5, 32.0% Nb2O5, 0.94% WO3 and 0.25% Sn, from selective samples was investigated. Preliminary pXRF results from the location returned anomalous results of 20.2% Ta, 12.1% Nb, 787ppm W, 204ppm Sn and 1079ppm REE (Y+La+Ce+Pr+Nd Only) from a sample of selected interpreted tantalite/columbite crystal. Reconniassance of the Skyline tenement (E09/2646) was restricted to station tracks and limited to two easily accessible thorium anomalies (one in the northwest and one in the southeast of the tenure), which had been previously identified via wide spaced (500m) open file geophysical data.

The northwest thorium anomaly is potentially part of a larger group of anomalies which require further evaluation. Ironstone and brecciated quartz was mapped trending west-northwest, within the interpreted anomaly location. Previous mapping of the area has highlighted an associated structure that potentially extends to the northwest for 12 kilometres.

pXRF results from selective samples comprising ironstone or ferrugenous lithologies within the anomaly area returned maximum anomalous results up to 0.52% Cu, 0.21% As, 0.47% V, 55% Fe, 614ppm Zn, 267ppm Mo, 582ppm Ba, 373ppm Bi and 0.31% REE (Y+La+Ce+Pr+Nd Only).