Wildcat Resources : LARGE LITHIUM SOIL ANOMOLY DEFINED AT BOLT CUTTER - PILBARA

LARGE LITHIUM SOIL ANOMOLY DEFINED AT

BOLT CUTTER PROJECT - PILBARA

Highlights

• • Strong 4km x 2km lithium soil anomaly (>50ppm Li) defined by first pass 1km x 0.5km spaced soil sampling

• • Located on the Pilgangoora Fault Zone, 34km north of the Pilgangoora Lithium Deposit

• • The 50ppm Li anomaly occurs within a broader (14km by 3km) anomaly indicative of fractionated and highly-evolved pegmatites

• • Follow-up field work has commenced, with geological reconnaissance underway this week and infill soil sampling to start early April

Wildcat Resources Limited (ASX: WC8) ("Wildcat" or "Company") is pleased to announce it has identified an 8km2 lithium soil anomaly at its Bolt Cutter Project. Assay results were returned from 508 reconnaissance soil samples collected on a 1km x 0.5km spacing from tenement E45/5612 in the Mallina Province of the Pilbara, WA1 (Figure 1 and Figure 2). The lithium anomaly is supported by trace element signatures that map out a 14km long zone consistent with a fractionated and fertile pegmatite source. Field mapping and rock-chip sampling has now commenced with infill soil sampling to start in early April.

Figure 1: Wildcat has identified a large lithium soil anomaly along trend from Pilgangoora.

1 ASX announcement 8th Sep 2021:https://www.investi.com.au/api/announcements/wc8/c040c9ac-eef.pdf

Figure 2: The soil anomaly has a coherent 8km2 >50ppm Li high-grade zone within a broader 10km x 3km fractionated zone along trend from the Pilgangoora and Wodgina lithium deposits.

Chief Executive Officer Samuel Ekins said "The scale of the anomaly for lithium and LCT pegmatite trace element indicators identified by this first pass exploration of E45/5612 has exceeded our expectations. The work has identified a large, coherent lithium soil anomaly located between regionally important structures, along trend from the Pilgangoora and Wodgina lithium deposits. To identify an anomaly, from the first systematic sampling ever completed in the area, that is large enough to contain a target of a comparable scale as two significant lithium projects along trend is very promising. We will commence follow-up field work immediately."

E45/5612 lithium soil anomaly 508 soil samples were collected in November at Bolt Cutter on the recently granted tenement E45/56122 as part of initial reconnaissance exploration. Samples were collected on a 1km x 0.5km grid across the tenement. 82 rock chip samples were also collected as part of this initial phase of fieldwork but none were collected within the central 8km² Li soil anomaly zone. The objective of the first pass exploration was to collect data to assess the project for lithium and gold mineralisation.

Location

E45/6512 is located to the east of the Tabba Tabba Shear in a complex granite terrane containing abundant pegmatite and greisen dykes, quartz veins and late dolerite dykes. Two major northeast trending structures, interpreted as long-lived, early basin growth faults, transect the tenement (Figure 1 and Figure 3). The easternmost structure, here referred to as the Pilgangoora Fault, projects from the

2 ASX announcement 18th October 2021:https://www.investi.com.au/api/announcements/wc8/c8b67a04-180.pdf

ASX Announcement 28 March 2022 southwest through the Pilgangoora Lithium Project (309mt at 1.14% Li2O and 105ppm Ta2O53) and through the east side of Wildcat's tenement - E45/5612. Several outcrops of lithium-caesium-tantalum ("LCT") pegmatites and tantalum deposits occur along the Pilgangoora Fault to the northeast of the Pilgangoora deposit4. The westernmost structure is known as the Wodgina Fault or Wodgina/Strelley Pegmatite Zone5 and projects from the southwest through the Wodgina Lithium Project (259Mt at 1.17% Li2O 6) through the southwest and along the western margin to the northwest corner of E45/5612.

Li Anomaly

Figure 3: Location of Wildcat's Bolt Cutter tenements showing E45/5612 along trend from Wodgina and Pilgangoora.

Soil anomaly

The lithium soil anomaly appears to be north-south oriented and occurs between the northeast trending Pilgangoora Fault and Wodgina Fault. The soil anomaly has a coherent 8km2 higher grade zone of >50ppm Li located proximal to the Pilgangoora Fault (up to 140ppm Li). The >50ppm Li anomaly occurs in a larger north-south 14km long by 3km wide zone of anomalous LCT indicators including soil samples results with over 30ppm Li, low K/Rb ratios between 0.01 and 0.008, and anomalous Al, Be, Ga, Rb, and Sn correlating with (Zr/Hf x K/Rb) (Figure 4 and Figure 2) which has been interpreted as a strong indicator of highly fractionated bedrock nearby.

Rock chip anomaly 82 reconnaissance rock chip samples were collected from outcrops over the 217km2 area of E45/5612 and the results from the rock chips support the anomaly defined by the soil samples. The rock chips were collected predominantly from pegmatite and greisen outcrops. A Li/Mg vs Li plot of the rock chips shows a fractionation trend towards LCT pegmatite compositions (Figure 5). This is also supported by the Li vs (Zr/Hf x K/Rb) plot (Figure 6). Figure 7 shows that rock chips were collected around the margins of the 14km zone of high fractionation, with few collected within it. Most of the samples have Mg/Li ratios less than 10 suggesting fertile compositions, consistent with the zone of high fractionation defined by the soil samples. One sample located to the south of the >50ppm soil anomaly proximal to the Pilgangoora Fault has a Mg/Li ratio <1 and Li >100ppm suggesting LCT pegmatite composition. Only five rock chips were

3 Pilbara Minerals Ltd ASX announcement 6th September 2021:http://www.pilbaraminerals.com.au/site/PDF/248fb0ec-acb0-4026-87e8-d278ea3ab5dc/SignificantIncreaseinPilgangooraResource

• 4 MINDEX

• 5 Sweetapple, M.T., 2017. A review of the setting and internal characteristics of lithium pegmatite systems of the

Archaean North Pilbara and Yilgarn Cratons, Western Australia. Conference proceedings from Granites2017@Bellana, extended abstracts. Bulletin 65, Australian Institute of Geoscientists

6 Mineral Resources Ltd ASX announcement 23 October 2018:http://clients3.weblink.com.au/pdf/MIN/02037855.pdf

acquired from within the >50ppm Li anomaly and these were proximal to the margins. The area of the >50ppm Li anomaly will be the focus of field work and rock chip sampling over the next few weeks.

Figure 4: Grid maps of 1/(K/Rb), Al, Be, Ga, Rb, and Sn showing a correlation with the north-south trending Li anomaly on Figure 2.

Figure 5: The Mg/Li vs Li plot shows that the rock chip pegmatite compositions are fractionated trending towards fertile LCT pegmatite compositions.

Unfractionated

Figure 6: The Li vs Zr/Hf x K/Rb plot also shows that the pegmatites are fractionated.