Reedy Lagoon Corporation Limited has received results from geophysical survey work at its Alkali Lake North lithium-brine project in Nevada, USA. The data was obtained from 3D Audio Magneto-telluric (AMT) surveys over the Project's placer claims. The survey adds to data obtained from the 3D AMT survey conducted in 2018 and extends the Company's 3D AMT cover over additional claims which were staked last month. The new survey data has made the following key advances for the Project: A substantial linear target is now interpreted to be finite in length, tubular in shape with a keel extending to at least 600 metres depth over its central section; The tubular target is entirely contained within the expanded project area with a total length of 4,300 metres. Previously it had been identified over a length of more than 2,000 metres within claims and extending north and south beyond claim boundaries; The full lateral extent of the tubular brine target lies within a sub-basin indicated in gravity data and the target's central keel coincides with the deepest part of the basin. The Project now has multiple brine targets indicated in 2D and 3D AMT survey data. The targets have substantial size and extent and are located within a basin interpreted in gravity survey data. The Company considers these to be prime targets for lithium bearing brine. 3D AMT Survey: The target is a conductor identified in magneto-telluric data (2D MT). Prior reporting excluded information from outside the area then held by RLC, which has now been staked and covered by a 3D AMT* survey. There were a total of 182 stations used in this inversion; 121 stations from 2018 plus 72 stations collected in 2021. Where stations were repeated (at the south of the north block and the north of the south block) the 2021 data set was used. Twelve frequencies, covering the range of 5 Hz to 250 Hz, were used for the inversion of this data. The data fit was excellent. The 5 ohm-m conductive shape outline defines a body of highly saline ground water extending for 4.3 kms north-south along the east side of the claim block in the form of a linear, sausage-like or canoe shaped body, and with a broad, western extension. Geological Interpretation: The main linear conductor along the east side of the property has been extended to a total of 4.3kms long. it appears to be finite in length and tube or canoe shaped with the deepest part (keel) being in the middle. The axis of the conductor coincides very nicely with the eastern side of the gravity "low" which marks the deepest part of the Alkali Lake basin. It is considered likely that this conductor represents a brine "channel" that is confined on its east side by a basin margin fault, or series of faults, and with resistive crystalline rock east of the fault(s). The E-W MT profiles indicate that there is an extensive brine layer extending west of the eastern brine channel and at the same depth, but with slightly lower conductivity (higher resistivity). The 3D AMT data indicates that shallow brine exists at about 100m depth but the most saline brine is at about 500m depth and it continues to more than 600m depth. Very saline brine is indicated between 350m and 600m at least. The Company interprets that brine has collected in the deepest part of the basin as a result of ground water movement over an extended period of geological time. The denser (more salty) fluids find their way to the lower parts of the host stratigraphy by gravity settling. This provides a mechanism for creating a highly saline brine in a stable trap site. Providing that there is a source for lithium it can be expected that the most saline ground waters will contain a high lithium concentration. The observed resistivities in this 3D AMT survey are less than 5 ohm-m and as low as 0.5 ohm-m in the 4.3 kilometre tubular target. In the western part of the central claim area there is an extensive tabular layer of about 5 ohm-m aquifer identified in the 2018 3D AMT survey. If carrying lithium, these indicated aquifers could also provide a very substantial lithium resource. The Company is investigating follow-up geophysical surveys, including shallow seismic reflection, to better define the lithium-brine targets at both its Alkali Lake North project and its Clayton Valley project.