Westar Resources Limited announced the completion of negotiations to acquire 100% of the "Olga Rocks" project which is considered highly prospective for lithium, rare metals and gold. Located adjacent to Westars' Parker Dome Project, the Olga Rocks Project compliments the existing tenement holding, bringing the total holdings in the region to 32.5 km. The Project contains numerous albite-rich pegmatites intercepted in historical drillholes which are consistent with observed outcrops and highlight the potential for up to 1 km of strike length.

These pegmatites have never been tested for lithium or rare metals. Initial reconnaissance and due diligence completed by Westar and independent pegmatite experts, Lily Valley International (LVI) supports the historical mapping and drilling with several pegmatite bodies overserved. The Olga Rocks Project: The Olga Rocks Project is located within the emerging Forrestania Li district, which hosts the developing Covalent Lithium "Mt Holland Project" (189Mt @ 1.50% Li201), along with Zenith Minerals recent Li-pegmatite discovery at the "Split Rocks Project" 2, less than 1.5 km from Olga Rocks.

Westar considers this Project has the potential to further enhance the Tier 1 lithium potential of the district, with further exploration success. The Southern Cross Greenstone Belt hosts multiple large scale gold occurrences including Marvel Loch, Nevoria and the nearby Bounty mines; all are multi-million ounce resources. Numerous phases of early- stage exploration have been completed across the Project, including geochemical sampling, RAB, RC and a single diamond drill hole, all focused on gold exploration.

Westar is systematically working through the historical data and rectifying input and grid collar location transformation issues across the Project that are interpreted to have hindered gold targeting by more recent explorers. The Olga Rocks project adjoins the NW corner of Westar's existing Parker Dome Project and Westar geologists have commenced evaluation of the Li potential of the project, focusing along the western margin of the greenstone-granite contact. Pegmatite Hosted LCT Potential Pegmatites were first identified at the Olga Rocks Project in 1914, however, gold has been the predominant focus of historical exploration within the region.

Westar considers Olga Rocks to be prospective for LCT class of pegmatites potentially has similar style of mineralisation to the recent Lithium discovery by Zenith Minerals, however further work is required to confirm this interpretation. Recent intercepts by Zenith include3; 26m @ 1.2% Li2O, incl. 13m @ 1.9% Li2O (upper zone); and 23m @ 0.8% Li2O, incl.

8m @ 1.3% Li2O (lower zone). Westar's due diligence field work was undertaken by Company geologists, accompanied by lithium expert Mr. Jeremy Clark from LVI in late 2022. This work confirmed the presence of pegmatites in drill logging undertaken by previous owners and identified muscovite and albite-rich pegmatites in outcrop, indicating a potential 1.0-1.5 km strike extent.

Pegmatite rock chip-samples taken during the field reconnaissance (assays pending), combined with the site visit observations, highlight the potential of LCT class pegmatites within the Project that are consistent with regional analogies. Of significance is that no systematic regional geochemical and rock chip analysis has been undertaken within the Project other than the historical gold focused drilling completed by Sons of Gwalia (SOG), nor has any drilling or geochemistry ever been undertaken to target the known pegmatites. During the late 1990's SOG gold exploration logged multiple occurrences of pegmatite in drilling, with one intersection logging a total of 32m of pegmatite (publicly available WAMEX A-file A55223, RC drill-hole OLC006, however, no known samples were assayed for Li and there exists no Li-focused systematic exploration conducted on the known pegmatites.

Gold Potential The Southern Cross Greenstone Belt hosts over 150 known deposits and has historically produced over 15 million oz of gold. Historical drilling has targeted gold mineralisation only, with numerous mineralised intercepts reported through WAMEX A-files. Westar notes these are historical drilling results, in local grid, and no data validations or QA/QC has been completed on this data.

Westar has commenced compiling a digital geological database of analogue historical data and in no way warranties the accuracy, of the data presented above or that the data is representative of the total Olga Rocks Project or total historical exploration activities. Furthermore, it is noted that limited follow-up RAB and RC drilling was completed in the area of these intercepts by the successive tenure holder, Polaris Metals NL. Whilst assay results demonstrate low- grade anomalous gold, Westar's initial due diligence work has indicated these holes were potentially drilled in incorrect locations to target higher-grade mineralisation due to grid transformation issues.

Next Steps Westar is planning an aggressive exploration program over the Project focused on systematic exploration methods never previous applied, nor considered by previous owners or vendors. With results imminent for multielement rock chip sampling, Westar is planning to undertake detailed analysis of historical drilling and mapping over the region to focused on defining the local and regional fractionation followed by a targeted drill program in second quarter 2023.