MYRNAS HILL PROJECT

Lycaon won ballot for tenement E45/6809 in June 2024, among 4 other applications, adjacent to the Marble Bar and DOM’s Hill projects held by Kali Metals Limited (KM1) and Sociedad Química y Minera de Chile (SQM), which are subject to an earn-in arrangement under which SQM has the right to earn up to 70% by funding A$12M over four years

Tenement covers the historic copper-gold prospect, Myrnas Hill, which has returned up to 42.8% Cu, 7.05% Cu and 6.49g/t Au in rock chip samples¹

Lithium potential to be a priority of exploration work programs, anticipated to commence later in the year following tenement grant

Detailed geological review of historical exploration work to be completed alongside site reconnaissance in the coming months

¹ Myrnas Hill, Minedex Site Code S0023297, Geoview, Department of Energy, Mines, Industry Regulation and Safety