Balkan Mining and Minerals Ltd. provided an update on the Company's work program at the Gorge Lithium exploration project located in the Georgia Lake Area, Thunder Bay North Mining District of Ontario, Canada (the "Gorge Lithium Project" or "Project"). The exploration program aimed to test the extent of the mineralised spodumene bearing dykes and to collect channel samples across the dyke to provide the first preliminary evaluation of the areas. The field crew spent 15 days carrying out prospecting and channel sampling activities at both the Koshman and Nelson prospective areas.

The crew successfully uncovered the 3 dykes at the Koshman occurrences and an additional previously unidentified dyke. The best sample found on the Koshman occurrence was a 0.60m sample. The main clusters of dykes uncovered showed an approximate width of 14.3m, with the single dyke intersecting a width of 3.80m.

The new pegmatite occurrence is located 68m to the south and approximately 50m offset from the strike of the known dykes. Follow up work is recommended to seek to expand the pegmatite exposures along the strike and explore the newly identified pegmatites. Prospecting and sampling at the Nelson occurrences represented the most significant findings during the program.

The most promising portion of the Nelson area is a cluster of 1.8m part of the dyke. The current program exposed 6.7m of the dyke from the eastern contact. The steepness of the cliff and snow cover has postponed penetration to the western contact.

The findings from this latest program at the Nelson pegmatite area is very encouraging for the Company. The channel samples from the program will be dispatched to ActLabs in Ontario shortly and the assay results will be reported once they become available.