Vital Metals Limited announce a substantial increase in the Mineral Resource Estimate for its Tardiff Upper Zone Deposit ("Tardiff"), which forms part of the Nechalacho Rare Earth Project ("Nechalacho" or the "Project"), 100 kilometres south-east of Yellowknife in Canada's Northwest Territories. Vital has updated the MRE with the incorporation of 4,483 metres of drilling from 66 holes drilled over the 2021 and 2022 drilling seasons. Total MRE tonnage (across all classifications) has increased by approximately 26%, with a slight reduction in TREO grade of approximately 4%. The Company holds a 100% interest in the minerals located on the mining leases at Nechalacho between the surface topography and the depth limit of 150 metres above sea level ("ASL"), or approximately 90 metres below surface, known as the Upper Zone. The material below 150 metres ASL is referred to as the Basal Zone and is retained by the original owner, Avalon Advanced Minerals Inc. ("Avalon"). The Tardiff Upper Zone Deposit is hosted near the top of a layered nepheline syenite intrusion, which is part of an anorogenic alkaline granitoid intrusion. The TREO mineralisation is hosted in hydrothermally altered eudialyte syenite and mainly contained in the minerals bastnaesite, synchysite, parisite, fergusonite, samarskite, allanite and monazite. Tardiff extends approximately 2km in length and the upper limit of the MRE is covered in glacial till which varies from surface to 10 metres in depth. Diamond core drilling of PQ, NQ and HQ diameter core using wireline recovery was used for all the drilling at Tardiff. A limited number of oriented core holes were drilled by Avalon for geotechnical purposes. Rock Quality Designation ("RQD") logging was performed on all drill holes starting in 2009. Due to the
very limited weathering profile and semi-massive nature of the mineralisation, core recovery was generally excellent.