Mt Monger Resources Limited has received further soil geochemical sampling results from an ongoing surface geochemical sampling program at the East Laverton Project located in the north Eastern Goldfields of Western Australia. The soil sampling has identified several new broad rare earth element (REE) anomalies in the Pt Kidman area. SOIL SAMPLING RESULTS: The assay results are from a program of surface geochemical sampling which was completed in September to October 2022, mainly within the Pt Kidman prospect area (tenement E38/3466, E38/3499 and E38/3462) and extending to the south to the central part of the East Laverton Project (tenement E38/3510).

The sampling program greatly expands the geochemical sampling coverage in the area, which was previously restricted to a small area in the southwest corner of the Pt Kidman area. Subsequent aircore drilling of these anomalies identified significant areas of flat-lying, shallow REE mineralisation hosted within the weathered rocks. Results show that the Pt Kidman area is significantly enriched in Total REE (TREE) compared with other areas that have been sampled to-date.

Within the Pt Kidman prospect itself, 5 large, coherent TREE anomalies have been defined, covering a total area in excess of approximately 100 square kilometres. These anomalous areas are open further to the east, south and north, where no sampling has been completed. Absolute values of the assay results are low due to the partial leach nature of the MMI technique but peak values are well defined above background values.

Anomalous areas are interpreted to be related to fertile basement granite and granite-gneiss that have a preserved weathering profile. Surface anomalies were also noted for nickel. The nickel anomalies do not show the same extent as the REE anomalies as they are interpreted to be associated with remnant inliers of mafic to ultramafic rocks entrained within granite-gneiss.

In the Pt Kidman area, the area of highest nickel values in the soil sampling corresponds with the location of a possible nickel gossan that was identified from rock chip sampling in the area. This confirms the effectiveness of the sampling to identify basement mineralisation. SOIL SAMPLING PROGRAM: The soil geochemistry program comprised a total of 5,800 samples, collected locally on variable sample grids including 800m x 200m, 400m x 200m, 400m x 100m and 100m x 100m sample spacing.

Samples were assayed using the proprietary SGS Laboratories mobile metal ion (MMI) technique to obtain a multi-element assay suite. The soil sampling program is continuing at the East Laverton area as the first-pass evaluation of the Company's tenements. The Company is currently waiting on additional assay results.

Further evaluation and analysis of the whole geochemical sampling program will be completed and reported when these data become available. FURTHER WORK: An aircore drilling rig has been contracted to undertake a program of drilling across the Pt Kidman area to test the REE anomalies for both extensions of known mineralisation and for new occurrences of REE. The rig is expected to mobilise to the Pt Kidman area in the coming week.

All regulatory work program approvals and heritage clearances have been obtained for the drilling program. Further soil sampling is proposed to evaluate the tenement areas further east and north of the extents of the current program in second quarter 2023. These areas are also considered to have prospectivity for REE but have not been previously explored.