Red Dirt Metals Limited announced an update on drilling at the Yinnetharra Lithium Project in the Gascoyne region of Western Australia. As announced on 28 November 2022, visual spodumene was identified as the Diamond Drill holes were completed. The result for YNRD005 has been returned, delivering a significant intercept and high-grade lithium.

This initial assay result is further evidence of the significant lithium mineralisation at the Yinnetharra Project and the exciting potential of the ground the Company will be aggressively exploring during 2023. The Company continues to progress the diamond drilling as well as infill and expansion RC drilling programs across the Project which will cover more than 400 holes and 90,000m in 2023. More than 50 Lithium pegmatites have been identified at the Malinda Prospect and will be progressively investigated during the year.

Extensional RC drilling is due to begin at the M1 pegmatite in the coming weeks, with~1km strike of anomalism from drilling, soils and outcrops to undergo testing in this pegmatite alone. Red Dirt is in the enviable position of having two high quality lithium projects. A significant resource at Mt Ida which is being fast tracked to production and what is shaping to be a large-scale exploration project at Yinnetharra.

Results from the M1 Pegmatite at the Malinda Prospect The M1 pegmatite is one of more than 50 pegmatites mapped at the Malinda Prosect. Lithium mineralisation is present from surface as shown by results from historic drilling e.g. GASRC0011 which collared in mineralisation and returned 8m @ 1.04% Li2O from surface. Spodumene is the dominant Lithium mineral seen to date in the M1 pegmatite.

The results from YNRD005 are the best results ever achieved on the project and is a sign of improving the understanding of the geology. With the intercept being significantly thicker than that seen in the up-dip hole and demonstrates substantial upside potential that exists at both the M1 pegmatite and across the Yinnetharra Project.