GreenTech Metals : Drilling Commences at Osborne Nickel Target

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Drilling Commences at Osborne Nickel Target

Highlights:

• Maiden RC drill program underway at the Osborne nickel target following recent heritage clearance.
• Osborne sits within the Andover Mafic-Ultramafic Intrusive Complex, which is host to the Andover Ni-Cu-Co project held by Azure Minerals / Creasy Group, 20km to the east.
• Azure recently declared a maiden JORC compliant resource at Andover of 4.6Mt @ 1.11% Ni, 0.47% Cu and 0.05% Co.1
• The Osborne nickel target is modelled by Fixed Loop Electromagnetic (FLEM) as dipping 30-45 deg to the north with the top of the target at a depth of around 155-175m (Figure 3).
• Joint Venture partners Artemis Resources and GreenTech Metals have planned a two-stage program to test the Osborne Nickel target (Figure 4).
• The stage one program will comprise up to three RC drill holes for 750m and will be aimed at testing the shallowest portion of the target.

1Refer ASX Azure Minerals Ltd Announcement 30 March 2022, 'Azure Delivers Maiden Mineral Resource Estimate for Andover Ni-Co Resource'

GreenTech Metals Ltd (ASX: GRE), ('GreenTech' or 'the Company') is pleased to announce that the maiden drill program to test the highly prospective Osborne nickel target (Artemis Resources "ARV" 100%, GreenTech earning 51%) is underway. Identified by Legend Mining in 2007 as a key nickel (+ copper) target, Osborne and the nearby Hickmott target were not followed up due to land access issues. Having received the final report for the recent heritage clearance survey, the Joint Venture has planned the stage one drill program of up to three RC drill holes (~750 metres) to test the shallowest portion of the Osborne target.

Thomas Reddicliffe, Executive Director, commented:

"We are very excited that this drill program is underway. Osborne is a compelling conductor target in the right rocks and in a proven nickel terrane. We have a pXRF analyser on site so we won't have to wait very long for preliminary results."

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The Osborne nickel target, which is located 5km northeast of the Sholl B1 nickel-copper deposit and 20km from Azure's Andover project, is a discrete VTEM anomaly that coincides with the contact between mafic and ultramafic intrusions of the Andover Intrusive Complex (Figure 1). The target is modelled as dipping 30-45 degrees to the north with the top of the target at a depth of around 155 -175m.

The Osborne nickel target was identified in 2007 from a VTEM survey commissioned by Legend Mining in joint venture with Fox Resources. The original modelling work was done by independent geological consulting group Newexco, and although recommended for drill testing at the time this did not eventuate. This first stage drill program will be undertaken by Egan Drilling and will be supervised by Newexco geological staff. Drill testing of the Hickmott target will be part of a future drilling campaign.

Hickmott

Target

Osborne

Target

Figure 1: Local geology of the Osborne Nickel prospect (Source GSWA 1:500,000 Digital geological

map with units modified to simplify legend. MGA94 Zone 50 coordinates)

Greentech Metals Limited | ACN 648 958 561 | Level 8, 99 St Georges Tce, Perth WA 6000

ASX code: GRE | +61 8 9486 4036 | info@greentechmetals.com.au| www.greentechmetals.com.au

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Figure 2: VTEM Survey Showing Targets

Greentech Metals Limited | ACN 648 958 561 | Level 8, 99 St Georges Tce, Perth WA 6000

ASX code: GRE | +61 8 9486 4036 | info@greentechmetals.com.au| www.greentechmetals.com.au

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Figure 6: First Drill Pad

This announcement is approved for release by the Board of Directors

ENDS

About GreenTech Metals Limited

The Company is an exploration and development company primarily established to discover, develop, and acquire Australian and overseas projects containing minerals and metals that are used in the battery storage and electric vehicle sectors. The Company's founding projects are focused on the underexplored nickel, copper and cobalt in the West Pilbara and Fraser Range Provinces.

The green energy transition that is currently underway will require a substantial increase in the supply of these minerals and metals for the electrification of the global vehicle fleet and for the massive investment in the electrical grid, renewable energy infrastructure and storage.

Greentech Metals Limited | ACN 648 958 561 | Level 8, 99 St Georges Tce, Perth WA 6000

ASX code: GRE | +61 8 9486 4036 | info@greentechmetals.com.au| www.greentechmetals.com.au

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