Forrestania Resources Limited provided an update on its lithium prospects at its 100% owned Forrestania project. After a review of previous exploration work by the Company's specialist lithium consultant, Dr. Leigh Bettenay, a number of significant interpretations have been made at the Mt Holland/Bounty East prospect (E77/2345). In late 2017 and early 2018, Marindi Metals/Firefly Resources drilled 306 air core holes for 8,813m and 35 RC holes for 3,750m in the area shown in Figure 11.

The geochemical results from this drilling programme have been reviewed and results of this review were announced by the Company on 2nd December 2021 (ASX announcement ­ Mt Holland pegmatite review) and confirm the strong prospectivity and potential of the Mt Holland/Bounty East area. The Marindi Metals/Firefly Resources geological logging suggests that the holes located at the eastern extent of the drilling intersected predominantly greenstones. Logged rock types include basalts and schists, with some pegmatites.

This potentially moves the "conventional" extent of the greenstone belt by approximately 2.5km further east. The fact that the greenstone/granite contact extends further east than previously thought has major implications for the lithium exploration potential. The "ideal" distance from a granite/greenstone contact is "conventionally" thought to be between one to four kilometres - the "Goldilocks Zone".

The Company's tenement portfolio includes approximately 100km of strike extent along the Forrestania granite/greenstone contact.