Announcement

We have released the following announcement:

CXU to acquire highly prospective lithium projects in Pilbara region of WA

HIGHLIGHTS

• Cauldron Energy agrees to acquire over 360sqkm of highly prospective lithium tenements across 2 project areas in the Pilbara region of Western Australia - one of the world�s emerging lithium provinces;
• The Pilbara is one of the world�s leading hard rock lithium provinces following the discovery and development of mines at Pilgangoora by Pilbara Minerals Limited (ASX: PLS) and Altura Mining Limited (ASX: AJM). A new potential lithium discovery by Fortescue Metals Group Limited (ASX: FMG) further enhances the region�s standing;
• The first project area is located at Pippingarra in the Tabba Tabba region near Port Hedland and along a fault paralleling the main Tabba Tabba structure which hosts a potential new lithium discovery by Fortescue (Pippingarra Lithium Project);
• The second project area is located near Marble Bar (Marble Bar Lithium Project) and contains a Lithium (Spodumene and Lepidolite) bearing pegmatite swarm, with a strike length of 3.5km (within a 4km wide corridor);
• Sampling has returned an assay high of 3.72% Li2O, with an average of 1.85% Li2O and limited first pass drilling has identified very encouraging results including best intercepts of 14m @ 0.58% Li2O from 0 to 14m including a higher grade interval of 3m @ 1.48% Li2O from 8m; and
• Comprehensive exploration program to commence immediately the transaction is completed.
  
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