Scorpion Minerals Limited provided an update on lithium exploration activities in the Poona area of its 100% owned Pharos Project. The Pharos Project covers an area of 1,544km2 60km northwest of Cue in the Murchison Mineral Field, Western Australia. Initial field reconnaissance has confirmed extensive LCT pegmatite swarms at Poona East and Poona West.

Individual pegmatites are up to 1000m long and surface exposures suggest widths from 10m to 15m wide. The pegmatites are shallow dipping and exhibit zonation both of which are important characteristics of significant LCT systems. Following a detailed technical review completed Scorpion successfully extended the strike zone of significant rare metal and Lithium, Caesium,Tantalum pegmatite potential within the Company's Pharos Project to a 50km long corridor. Initial field reconnaissance including geological mapping and rock chip sampling has now been completed at Poona East and Poona West.

The objectives of the campaign were to; Evaluate the effectiveness of limited historic RC drilling Obtain structural information to allow optimal planning of the initial stratigraphic RC drill test of existing targets Inspect areas of previous high lithium rock chip results Determine the potential for additional LCT pegmatites and the lateral extent of the corridor Historic RC drill testing at Poona East consisted of 3 holes approx. 400m apart. PORC001 drilled parallel to the north dipping pegmatite and only clipped the unit at the surface.

PORC002 was collared in one pegmatite which was only partially intersected and interestingly intersected a second pegmatite at depth suggesting a shallow north dip to the system. PORC003 drilled in a faut blank and failed to intersect any pegmatite. Poona West historic RC drilling consisted of two holes at outcropping unmineralised simple pegmatites and failed to intersect any mineralisation.

Significant complex LCT pegmatites were mapped by Scorpion 100 to 200m metres south of this drilling and remain unsampled and untested. Mapping so far has confirmed multiple LCT pegmatites in both areas that are oriented sub parallel to the granite contact and are shallow dipping to the north and northeast . Shallow dipping pegmatite orientation is a characteristic of significant LCT pegmatite systems. Inspection of historic rock chip areas has, importantly, confirmed the presence of zonation within the LCT pegmatites across their width and along strike including: Scorpion plans to undertake the following work programmes during the December quarter and further updates on progress will be provided in due course: Follow up geological mapping and rock chip sampling High resolution Airborne photography has been completed to aid detailed mapping Initial RC drill testing of existing targets Additional heritage clearing to allow access to the expanded pegmatite target area.