Kingfisher Mining Limited announced the grant of tenements E09/2660 and E09/2661 at its wholly-owned Gascoyne Project. The newly granted tenements E09/2660 and E09/2661 make up the Mooloo Project. The project consists of rocks of the Halfway Gneiss and Moogie Metamorphics which are the same rocks that appear within the Mick Well area that host the Company's high grade REE discoveries across several targets including the namesake Mick Well Project as well as MW2, MW7 and MW8.

Significantly, the Mooloo Project also shows high thorium responses which are similar to Mick Well, where elevated thorium is known to be associated with REE mineralisation. The geology, structure and thorium anomalies have been used to identify a new target corridor which extends over a strike length of 18km across the newly granted tenure. This target corridor is located 20km to the south of, and is parallel to the existing 54km target corridor which hosts the REE discoveries along the Mick Well corridor.

Kingfisher is carrying out extensive and targeted exploration programs for its Gascoyne projects during 2022. The planned exploration is cost-effective and aims to develop and test drill targets from ground-based mapping and rock sampling. The Company also plans to simultaneously develop a pipeline of exploration opportunities through integrating current and scheduled tenement-scale airborne geophysical surveys with geological knowledge from the Company's breakthrough REE discovery at Mick Well.