Buxton Resources Ltd. updated shareholders on progress at Buxton's 100% owned Graphite Bull project, Gascoyne Region, WA. A short scout exploration RC drill program has been completed at Graphite Bull over the past week. Buxton drilled five holes totaling 991 metres to test recently-defined ground EM targets, targets/conductors which indicated Graphite Bull was a much larger mineralised system than previously thought.

This drill program has confirmed that multiple, substantial zones of graphite mineralisation extend for at least the 1,880 metres of strike length now drill-tested by Buxton, and to depths beyond 200 metres from surface. These results have de-risked the EM modelling, and greatly assist planning of future drill programs. Within this >1,880 metre strike extent, Buxton's 2014 Inferred Resource of 4 Mt at 16.2 % Total Graphitic Carbon (TGC) occupies a strike length of just 460 metres. Buxton is delighted with this outcome, which coupled with recent and ongoing outstanding metallurgical testwork results, positions Graphite Bull as the most attractive graphite project in WA, possibly Australia.

Buxton will continue with the necessary technical studies to progress Graphite Bull in a measured way appropriate to the state of the global graphite market. Samples from this program will be submitted for analysis in the next few days as the crew de-mobilise from site. Assay turnaround is likely to be 4-6 weeks.

Meanwhile, BUX will complete visual estimation work to assess thicknesses and approximate grades intersected in this drilling, and update investors on that in the coming week. The drill program was completed safely, on time and budget in somewhat challenging heatwave (>47 deg C) conditions. Encouragingly, demand for Li-ion batteries, fuel cells and other graphite-intensive renewables technology continues to escalate, pushing the global graphite market into deficit for the first time in modern history.