iTech Minerals Ltd. released an Exploration Target of 110-220 Mt @ 635-832 ppm TREO and 19-22% Al2O3 for the Caralue Bluff REE-Kaolin Project. The Exploration target is based on 80 drill holes, from a total program of 260, across an area of approximately 12 km x 12 km. Importantly it remains open in multiple directions allowing for possible expansion in upcoming drill programs. The company now eagerly awaits the results of its metallurgical test work program to determine whether the REEs are in an ionic and/or colloidal form and have the potential to be economically extracted.

If metallurgical results are positive, a major drilling program is planned, post-harvest (December-January), to convert the Exploration Target to JORC resources. The Caralue Prospect was initially established as a high purity kaolin prospect with the identification of thick intervals of bright white kaolin, close to surface, in several historical drill holes. Having identified significant REEs in the kaolin rich intervals at Ethiopia, Burtons and Bartels Prospects, iTech geologists suspected that Caralue Bluff might also be prospective for regolith hosted REE mineralisation.

A total area of 12 km x 12 km was tested by drilling of 260 holes, the results of which have determined the continuity of mineralisation within this extensive area. The Caralue Bluff Exploration Target area has three separate kaolin domains identified where down- hole sample interval composite head grades of TREOs exceeded 400ppm. The drill hole samples within each of the individual domains were separated into the individual domains and weighted averages of the head grades and screened grades for the composite intervals were used to provide the following information for the cumulative exploration target.

A total of 79 holes drilled in early 2022 were used in the exploration target, the exploration results for these holes have been progressively released to the market over the year.