White Cliff Minerals : Yinnetharra Pegmatite Sampling Results & Exploration Update

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ASX ANNOUNCEMENT

11 January 2022

Results Received from Yinnetharra Pegmatite Dykes

and Exploration Update

HIGHLIGHTS

• Yinnetharra samples variations in Li, Ta, Sn and REE suggest the presence of 2-3 phases/generations of pegmatite intrusions with more detailed exploration required to target any potentially important pegmatites.
• High resolution satellite imagery has been obtained covering all Yinnetharra Project tenements, and the preliminary review indicates a lot more sampling sites need to be visited, as indicated in Figure 2 and 3.
• Options for reprocessing and acquisition of complementary datasets to identify prospective targets are being canvassed.
• A report on an initial trial processing effort is anticipated in about 10 days.
• White Cliff plans to aggressively advance the Company's lithium and rare earth element project portfolio.
• Reedy's South Gold Project drilling due to start mid-January with field crew on site preparing McCaskill's and Cracker Jack for the arrival of the RC drill rig.

White Cliff Minerals Limited (White Cliff or the Company) is pleased to provide an update on the reconnaissance samples collected during the first pass field trip to Yinnetharra (Figure 1) and the start of exploration RC drilling at Reedy's South.

The results returned from the randomly selected sites confirmed presence of pegmatites within all tenements visited and was a critical first step. High- resolution air photography subsequently acquired by the Company has confirmed that there is a lot more sampling to be undertaken across a number of potential targets.

Commenting on the field trip, White Cliff Technical Director Ed Mead said:

"Clearly, we have work to do, but no way should 14 samples be regarded as representative of >750sq km; the site visit achieved our primary objective of proving pegmatites to be present within the White Cliff and Magnet Resource Company tenements. We have acquired high (0.5m) resolution WorldView-2, 3 and Geoeye-1 satellite data (Figure 3) which with be used to plan our ongoing exploration in 2022. We look forward to getting back on the ground, and also conducting first pass programs at Gardner Range, Rat Hill, Diemals, Hines Hill and Preston River, as we press forward on Li and REE exploration."

ASX:WCN		wcminerals.com.au
White Cliff Minerals Limited	Level 8, 99 St Georges Tce, Perth WA 6000	T + 61 8 9486 4036
ABN 22 126 299 125	PO Box 5638 St Georges Tce, Perth WA 6831	F + 61 8 9486 4799

For personal use only

Figure 1: Li/REE Project location map in Western Australia

Yinnetharra - Li/REE Project

The Yinnetharra Li/REE project consists of six tenement applications (Figures 2), within the Gascoyne lithium region, located about 100km northeast of Gascoyne Junction and 85km south of Hastings Rare Earths (ASX:HAS) world-class Yangibana rare earths project. Two of the tenement applications are 100% owned by a subsidiary company, Electrification Metals Pty Ltd (E09/2628 & 2641). The other projects within the Yinnetharra area are Wabli Creek (E09/2629), Injinu Hills (E09/2609), Weedarra (09/2608) and Sandy Creek (E9/2630) to be 100% owned subject to shareholder approval of the Magnet acquisition (refer announcement dated 23 November 2021).

ASX:WCN		wcminerals.com.au
White Cliff Minerals Limited	Level 8, 99 St Georges Tce, Perth WA 6000	T + 61 8 9486 4036
ABN 22 126 299 125	PO Box 5638 St Georges Tce, Perth WA 6831	F + 61 8 9486 4799

For personal use only

Figure 2: Yinnetharra (WCN 100%) Li/REE project, tenement locations and sampling sites, including Magnet

Resource' (Wabli Creek, Injinu Hills, Weedarra and Sandy Creek)

Figure 3: High Resolution satellite imagery over E09/2630 and 2 sample locations. Note the multitude of

northeast trending sheeted pegmatite dykes, and alteration zones and areas not sampled yet.

ASX:WCN		wcminerals.com.au
White Cliff Minerals Limited	Level 8, 99 St Georges Tce, Perth WA 6000	T + 61 8 9486 4036
ABN 22 126 299 125	PO Box 5638 St Georges Tce, Perth WA 6831	F + 61 8 9486 4799

For personal use only

Table 1 below shows the results from the samples collected from the random selection of reconnaissance visit sites expressed as oxides in percentage terms.

Table 1: Results of Rare Earth Element (REE) analyses expressed as REO%

Sample Lithology East

North CeO2 % Dy2O3 % Er2O3 % Eu2O3 % Gd2O3 % Ho2O3 % La2O3 % Lu2O3 %

MGA Z50 MGA Z50

MTX14001

1. Feld/Lith 415045 7270425 0.00130 0.00031 0.00018 0.00001 0.00023 0.00006 0.00057 0.00005
   MTX14002

1. Peg/lith 415045 7270425 0.00203 0.00057 0.00028 0.00001 0.00045 0.00011 0.00102 0.00005
   MTX14003

1. Feld 412609 7266995 0.00044 0.00003 0.00002 0.00004 0.00002 0.00001 0.00019 0.00000

MTX14004

1. Feld 403599 7265242 0.00081 0.00005 0.00002 0.00007 0.00006 0.00001 0.00040 0.00000

MTX14005

1. mag/Ti 403592 7265265 0.00647 0.00016 0.00006 0.00003 0.00024 0.00003 0.00197 0.00001

MTX14006

1. mag/Ti 402465 7265755 0.00631 0.00014 0.00006 0.00004 0.00020 0.00003 0.00141 0.00001

MTX14007

1. Feld 402465 7265755 0.00025 0.00002 0.00001 0.00007 0.00002 0.00000 0.00012 0.00000

MTX14008

1. Mica 392437 7280248 0.00407 0.00047 0.00031 0.00007 0.00040 0.00011 0.00171 0.00004

MTX14009

1. Feld 393760 7276820 0.01247 0.00059 0.00023 0.00016 0.00106 0.00010 0.00589 0.00002

MTX14010

1. Feld 431958 7244510 0.00026 0.00014 0.00008 0.00003 0.00010 0.00003 0.00034 0.00002

MTX14012		444549	7260846 0.00017	0.00003	0.00001 0.00000	0.00002	0.00000	0.00009	bld
D	Mica
MTX14013		444537	7260862 0.00036	0.00003	0.00000 0.00000	0.00004	0.00000	0.00012	bld
D	Feld

MTX14014

1. Tour 444528 7260870 0.01012 0.00034 0.00012 0.00011 0.00053 0.00005 0.00502 0.00001

MTX14103

1. Feld 412605 7266990 0.00144 0.00021 0.00011 0.00001 0.00020 0.00004 0.00067 0.00002

		Nd2O3	Sm2O3	Tm2O3
Sample Lithology East	North	%	Pr6O11 % % Tb2O3 %	%	Y2O3 % Yb2O3 % TREO%
	MGA
MGA Z50	Z50

MTX14001

1. Feld/Lith 415045 7270425 0.00055 0.00015 0.00026 0.00005 0.00004 0.00222 0.00030 0.00630

MTX14002

1. Peg/lith 415045 7270425 0.00091 0.00025 0.00038 0.00010 0.00005 0.00377 0.00034 0.01032

MTX14003

1. Feld 412609 7266995 0.00007 0.00002 0.00002 0.00000 0.00000 0.00019 0.00002 0.00108

MTX14004

1. Feld 403599 7265242 0.00023 0.00006 0.00005 0.00001 0.00000 0.00032 0.00001 0.00210

MTX14005

1. mag/Ti 403592 7265265 0.00152 0.00044 0.00028 0.00004 0.00001 0.00075 0.00004 0.01204

MTX14006

1. mag/Ti 402465 7265755 0.00119 0.00030 0.00022 0.00003 0.00001 0.00074 0.00005 0.01072

MTX14007		402465 7265755 0.00008 0.00002 0.00002 0.00000 bld	0.00013 0.00001 0.00073
D	Feld

MTX14008

1. Mica 392437 7280248 0.00149 0.00040 0.00040 0.00008 0.00004 0.00347 0.00026 0.01330

MTX14009

1. Feld 393760 7276820 0.00563 0.00146 0.00132 0.00013 0.00003 0.00297 0.00016 0.03223

MTX14010

1. Feld 431958 7244510 0.00019 0.00005 0.00006 0.00002 0.00002 0.00122 0.00011 0.00265

MTX14012

1. Mica 444549 7260846 0.00009 0.00002 0.00003 0.00000 0.00000 0.00013 0.00001 0.00061

MTX14013		444537 7260862 0.00010 0.00003 0.00004 0.00001 bld	0.00011 bld	0.00084
D	Feld

MTX14014

1. Tour 444528 7260870 0.00395 0.00112 0.00076 0.00008 0.00001 0.00166 0.00009 0.02400

MTX14103

1. Feld 412605 7266990 0.00061 0.00016 0.00024 0.00004 0.00002 0.00142 0.00014 0.00533 Bld - below detection.

ASX:WCN		wcminerals.com.au
White Cliff Minerals Limited	Level 8, 99 St Georges Tce, Perth WA 6000	T + 61 8 9486 4036
ABN 22 126 299 125	PO Box 5638 St Georges Tce, Perth WA 6831	F + 61 8 9486 4799

For personal use only

The results of lithium analyses (Table 2) are in line with the expectations as neither spodumene nor lepidolite were identified in the field samples.

Table 2: Results of Lithium and related element analyses.

					Li	Cs	Rb	Sn	Ta			Th		U	Zr
Sample	Lithology	East	North	Li %	ppm	ppm	ppm	ppm	ppm	Fe2O3%	K2O%	ppm	TiO2%	ppm	ppm
		MGA	MGA
		Z50	Z50
MTX14001
D	Feld/Lith	415045	7270425	0.001	10	2.71	305	2	0.3	0.99	4.59	4.9	<0.02	2.1	21
MTX14002
D	Peg/lith	415045	7270425	0.003	30	1.22	123	16	1.2	1.34	1.67	5.9	0.02	2.5	20
MTX14003
D	Feld	412609	7266995	0.001	10	13.9	547	<1	0.3	0.34	11.9	<0.5	<0.02	0.5	2
MTX14004
D	Feld	403599	7265242	0.001	10	2.24	265	<1	<0.1	0.54	8.18	<0.5	<0.02	0.5	3
MTX14005
D	mag/Ti	403592	7265265	0.001	10	0.25	5.6	51	0.7	96.5	0.13	2.7	2.05	11.6	51
MTX14006
D	mag/Ti	402465	7265755	0.001	10	0.16	2.9	66	0.6	92.9	0.08	1.2	1.83	3.6	72
MTX14007
D	Feld	402465	7265755	0.001	10	2.48	433	<1	<0.1	0.46	12.2	<0.5	<0.02	<0.5	<2
MTX14008
D	Mica	392437	7280248	0.001	10	2.85	332	4	0.5	0.73	7.22	6.3	0.03	2.2	7
MTX14009
D	Feld	393760	7276820	0.002	20	5.01	292	1	0.6	1.08	5.96	56	0.06	4.3	14
MTX14010
D	Feld	431958	7244510	0.001	10	13.65	942	1	0.9	0.5	11.95	0.6	<0.02	1.5	10
MTX14012
D	Mica	444549	7260846	0.01	100	17.2	617	3	40.2	1.52	4.39	0.9	0.03	2.6	10
MTX14013
D	Feld	444537	7260862	0.002	20	48.8	997	<1	0.9	0.56	8.73	<0.5	<0.02	0.7	2
MTX14014
D	Tour	444528	7260870	0.016	160	14.5	250	4	36.2	6.48	2.18	14.4	0.48	3.5	132
MTX14103
D	Feld	412605	7266990	0.001	10	0.53	18	1	1.4	0.67	0.43	4.1	<0.02	2.4	18

Samples MTX14012 D and 14014D show some values of interest; the variations in Li, Ta, Sn and REE suggest the presence of 2-3 phases/generations of pegmatite intrusion, detailed exploration will be necessary to identify and target any potentially important pegmatites.

Exploration planning will utilise the time prior to the granting of the tenements to refine the process to define areas of interest within the 775km2 of tenement applications.

Reedy South Gold Project

Following the successful Heritage clearance survey before Christmas, exploration Reverse Circulation (RC) drilling of the McCaskill's Hill and Cracker Jack prospects is expected to commence on or about 15 January.

ASX:WCN		wcminerals.com.au
White Cliff Minerals Limited	Level 8, 99 St Georges Tce, Perth WA 6000	T + 61 8 9486 4036
ABN 22 126 299 125	PO Box 5638 St Georges Tce, Perth WA 6831	F + 61 8 9486 4799