Announcement PDF Level 11, 40 The Esplanade, Perth, Western Australia, Australia | admin@lightningminerals.com.au | (08) 9429 8806 ASX Announcement 30 October 2025 QUARTERLY ACTIVITIES REPORT FOR THE QUARTER ENDED 30 SEPTEMBER 2025 Lightning Minerals Ltd (L1M or the Company) is pleased to report its Quarterly Activities Report for the Quarter ending 30 September 2025. HIGHLIGHTS o Start of drilling of high-priority gold and silver targets at newly acquired Mt Turner project in Queensland, Australia o Up to 1,300m of diamond drilling planned over five target areas at Mt Turner o Historic mining and exploration at Mt Turner has allowed for expedited targeted drilling of gold and silver targets o Soil sampling and rock chip sampling at Mt Turner completed – aiming to define multiple target areas along the Drummer Fault o Assay results received for drilling at the Esperança lithium project in Minas Gerais, Brazil providing further vectoring opportunities o Target generation ongoing at Esperança, Caraíbas and Canabrava lithium projects in Minas Gerais, Brazil o Capital Raise completed for A$2.0M providing full funding for inaugural drill program at Mt Turner o Subsequent to end of Quarter highly experienced public company director and mining executive Mr David Vilensky appointed as Non-Executive Chairman Lightning Minerals’ Managing Director Alex Biggs said, “This Quarter has been a positive step for the Company. Completion of the acquisition of Lotus Minerals and the initial drilling of gold and silver targets at Mt Turner in Queensland demonstrates our commitment to testing opportunities in our portfolio quickly and effectively. Gaining exposure to the gold, silver and copper markets is an excellent opportunity for the Company whilst maintaining exposure to the lithium market with our Brazil assets. We see Mt Turner as a strong catalyst for the Company moving forwards with the final Quarter of the calendar year expected to ASX: L1M Shares on Issue 189,203,319 Performance Rights Outstanding 46,049,999 Unlisted Options Outstanding 32,513,331 Listed Options Outstanding 40,389,258 (exercisable at A$0.25) Cash Position A$1.204 Million (at 30 September 2025) Non-Executive Chairman Mr David Vilensky Managing Director Mr Alexander Biggs Non-Executive Director Mr Craig Sharpe Non-Executive Director Mr Jamie Day Level 11, 40 The Esplanade, Perth, Western Australia, Australia | admin@lightningminerals.com.au | (08) 9429 8806 provide results of our drill program at Mt Turner. We appreciate our investor’s patience and belief in the team and our strategy and look forward to the coming Quarter”. OPERATIONAL REVIEW MT TURNER PROJECT OVERVIEW (100% L1M) The inaugural drill campaign at the Company’s wholly owned Mt Turner project began during the Quarter and is ongoing subsequent to end of period. The drill program has been planned for up to 1,300m targeting beneath and along strike previously mined open pits. Historic drilling at Mt Turner has demonstrated significant gold and silver potential along the 14km strike Drummer Fault. These results include: 16m @ 3.56 g/t Au (Hole UMDT95_D04), 16.0m @ 3.60g/t Au (Hole UMDT95_D03), 12m @ 6.5g/t Au (Hole UMDT95_D03), 7m @ 1.7g/t Au and 67g/t Ag (Hole 21ISMDWRC001_DH6) , 3m @ 5.1g/t Au and 51g/t Ag (Hole DH2), 1.0m @ 3.4g/t Au and 100g/t Ag (Hole QMCD83_D03), 5.2m @ 1.5g/t Au and 80g/t Ag (Hole QMCD83_D04). Experienced drill contractors Geo Drill Australia have been contracted to complete the program. A summary of historic results and JORC Table 1 can be viewed in ASX Announcement 01 September 2025. A soil and rock chip sampling campaign was completed at the end of the Quarter. The program has focused on defining new areas of interest along the Drummer Fault and across the broader tenement area. Results will assist in target generation for phase two drilling at Mt Turner in 2026. As part of drill planning for 2026 the Company is evaluating the potential to drill multiple IP targets at the Mt Turner porphyry copper project. The Company is also reviewing it’s exploration strategy for the Warby-Scardon project which is located near to Mt Turner and was included in the Lotus Minerals acquisition. BOREE CREEK, BURDETT, MANILDRA AND CORRYONG PROJECTS OVERVIEW (100% L1M) As part of the Lotus Minerals acquisition (ASX Announcement 05 September 2025) the Company has begun to evaluate the wholly owned Boree Creek, Burdett and Manildra copper and gold projects in the prolific Lachlan Fold belt. The projects are located between the tier one Northparkes project (Evolution Mining, ASX: EVN) and Cadia Valley project (Newmont Mining, ASX: NEM). The Company expects a formulated plan for execution in 2026 to further develop the already identified porphyry system which includes historic drill results including 48m @ 0.35% Cu and 0.31g/ t Au from 96m (RC94DH06). The Company also acquired the Corryong Project located in the Lachlan Fold Belt on the Victorian side of the NSW-Victorian border. Desktop reviews of available data suggest the project may be host to Orogenic Gold, poly-metallic Skarn and Porphyry (+/- Mo, Au, Cu, Ag) mineralisation. Plans are underway for initial reconnaissance work in 2026 with the tenements now granted. CARAÍBAS, SIDRÔNIO AND ESPERANÇA PROJECT OVERVIEW (100% L1M) Assays were received from the inaugural drilling campaign at the Esperança project in Minas Gerais, Brazil following completion of 1,442m of diamond drilling. Drilling has confirmed the presence of a Level 11, 40 The Esplanade, Perth, Western Australia, Australia | admin@lightningminerals.com.au | (08) 9429 8806 pegmatite system in the locality with intersections up to 94m (true width estimated ~80m). Low lithium grades have been encountered but geochemical analysis and vectoring are underway to help determine the fractionation direction which may indicate a potential lithium source region. Drilling was expedited on the Esperança project following the discovery of spodumene at Esperança in artisanal workings (ASX Announcement 18 November 2024) and subsequent confirmation of spodumene through Raman Spectroscopy (ASX Announcement 17 January 2025). Multiple areas of lithium in soil anomalism have previously been identified including a 2km lithium in soil anomaly up to 239ppm Li at the Caraíbas project (ASX Announcement 02 December 2024) and lithium in soil anomalism up to 113ppm Li at the Canabrava project (ASX Announcement 03 October 2024). Infill soil sampling results across these key areas of interest was released during the Quarter for the Caraíbas and Canabrava projects with results up to 429ppm Lithium and 320ppm Lithium respectively. Works are ongoing in Brazil with a focus on further target generation across all three assets: Esperança, Caraíbas and Canabrava. This will allow the Company to have drill ready lithium targets which can be executed as sentiment in the lithium sector improves. The Company still believes in the significant potential that its Brazilian asset portfolio represents, providing strong optionality to the future lithium sector. MAILMAN HILL PROJECT OVERVIEW (100% L1M) An Aircore and/or Reverse Circulation drilling program is being considered to target potential extensions of Cavalier Resources’ (ASX: CVR) Crawford Gold Project which is located adjacent to the Mailman Hill tenement. Drilling is planned for 2026. DUNDAS PROJECT OVERVIEW (100% L1M) The Dundas projects are under review by the geology team. Continued evaluation of existing data and regional prospectivity is ongoing. DALMAS AND HIVER PROJECT OVERVIEW (100% L1M) The Dalmas and Hiver projects are under review by the geology team. Continued evaluation of existing data and regional prospectivity is ongoing. MT BARTLE PROJECT (100% L1M) Application for the Mt Bartle tenements is still pending based on execution of heritage agreements. Data review and analysis is ongoing and continues subsequent to the end of Quarter. Discussions regarding execution of heritage agreements are continuing. Level 11, 40 The Esplanade, Perth, Western Australia, Australia | admin@lightningminerals.com.au | (08) 9429 8806 SUMMARY OF ANNOUNCEMENTS IN THE QUARTER (ending 30 September 2025) Announcement Date Title 4/07/2025 Preparations for Drilling Begin at Mt Turner Gold Project 24/07/2025 Visit to Mt Turner Gold Project in Preparation for Drilling 1/09/2025 Drilling to Begin on High Priority Gold Targets at Mt Turner 5/09/2025 Completion of Acquisition of Lotus Minerals 19/09/2025 Start of Drilling of Gold and Silver Targets at Mt Turner 26/09/2025 Intersections up to 94m Width at Esperança Project in Brazil Drill Targeting and Start of Drilling on High Priority Gold Targets at Mt Turner (04 July 2025, 24 July 2025, 01 September 2025 and 19 September 2025) Drilling has been designed to demonstrate the potential for extensions to, orientation of and style of mineralisation beneath the existing Rocky Reward, Drummer Girl, Drummer Boy, Drummer West and Drummer East pits. Existing pits were excavated to a maximum depth of 20m targeting high-grade oxide material during the 1990s with little exploration at depths below 100m. Drilling began on 19th September 2025 and is ongoing subsequent to end of Quarter. Figures 1 and 2 show the planned drill program at the Mt Turner Gold Project. Figure 1: Indicative drill targeting at the Mt Turner Gold Project – Drummer Deposits (Digital T errain Model showing existing open pits, previous drill locations and planned drill hole locations) Level 11, 40 The Esplanade, Perth, Western Australia, Australia | admin@lightningminerals.com.au | (08) 9429 8806 Figure 2: Indicative drill targeting at the Mt Turner Gold Project – Rocky Reward Deposit (Digital T errain Model showing existing open pits, previous drill locations and planned drill hole locations) Mt Turner Gold Project – Soil Sampling A soil sampling program is nearing completion and has been designed to test for coherent linear gold anomalies between the known Drummer and Rocky Reward open pits, over a strike length of 12.5 km as shown in Figure 3. The soil sampling program will collect samples along the Drummer Hill Fault System on a fence line spacing of 100m, with samples collected along the fence lines every 20m. Soils at Georgetown are skeletal except for sheet wash and recent sediments from active drainages. There are no deep soil proles as the terrain is an emerging landscape. A handheld mechanical auger will be used to collect soil samples from ground within the B soil horizon. Samples will be sent to the ALS Global Laboratory in Townsville for sample preparation and chemical analysis with results expected within 4-6 weeks. Results will assist with further drill targeting and aim to demonstrate continuity of mineralisation along the strike of the Drummer Fault. Level 11, 40 The Esplanade, Perth, Western Australia, Australia | admin@lightningminerals.com.au | (08) 9429 8806 Figure 3: Indicative soil sampling campaign along the Mt Drummer Hill Fault at the Mt Turner Gold Project (Digital T errain Model showing soil sampling areas across total tenement area of EPM 27525 and EPM 27170) About the Mt Turner Gold Project The Mt Turner Gold Project is located 15km to the northwest of Georgetown in North Queensland. The Mt Turner Gold Project is granted Exploration Permits (EPM 27170 and EPM 27525) and will be explored by the Company with the intention of identifying an economic gold resource with accessory silver along the Drummer Fault structure, a 14 km east-west structure readily visible on LiDAR and satellite imagery. Historically, several shallow oxide pits were mined for gold in the 1990’s along the Drummer Fault. In addition, northeast trending structures have intersected the Drummer Fault in a number of locations, with these structures potentially contributing to the formation of higher-grade mineralisation of yet undiscovered mineralised splay faults. Multiple targets exist along the Drummer Fault and below existing open pits. Prior drilling has been completed by Essex Minerals Inc during 2021, Union Mining NL in the 1990s, and CRA Exploration Ltd in the late 1980s intersecting multiple gold lodes with positive results including 16m @ 3.56 g/t Au (Hole UMDT95_D04), 16.0m @ 3.60g/t Au (Hole UMDT95_D03), 12m @ 6.5g/t Au (Hole UMDT95_D03) and 6m @ 2.9g/t Au (Hole PD86_RR2). These results formed the basis Level 11, 40 The Esplanade, Perth, Western Australia, Australia | admin@lightningminerals.com.au | (08) 9429 8806 for open pit mining across six open pits in the 1990s. Minimal exploration has occurred beneath the historical open pits but multiple targets exist with shallow mineralisation intercepts of up to 7.0m @ 1.74g/t Au (Hole 21ISMDWRC001) and 7.5m @ 1.6g/t Au (Hole QMCD83_D04). Further information on Mt Turner project, historic drilling results and the Lotus Minerals acquisition can be found in full the Company’s ASX Announcement dated 30 June 2025. Figure 4: Isometric view of Mt Turner project demonstrating the 14km Drummer Fault (LANDSAT image) incorporating previous results as reported 23 March 2023, with Magnetic RTP background Completion of Acquisition of Lotus Minerals (05 September 2025) The Company announced the completion of the acquisition of 100% of Lotus Minerals Pty Ltd during the Quarter. The acquisition consists of two advanced and highly prospective brownfields gold and copper assets located in Queensland (Mt Turner Projects) and New South Wales (Lachlan Fold Copper Porphyry Project) The Acquisition terms were the issue of 30,000,000 consideration shares and the issue of up to 60,000,000 deferred consideration shares, subject to achievement of various milestones (ASX Announcement 30 June 2025). The Acquisition has been approved by the Company’s shareholders at an Extraordinary General Meeting on 26 August 2025 (ASX Announcement 26 August 2025). The 30,000,000 consideration shares were issued and the Acquisition completed on 5 September 2025. The Company also completed its capital raising of A$2.0 Million (before costs) at A$0.04 per share through GBA Capital The Acquisition provides the Company with exposure to the buoyant gold and copper markets through near term, drill ready targets and projects that demonstrate strong prospectivity, historic mining and encouraging previous results. Level 11, 40 The Esplanade, Perth, Western Australia, Australia | admin@lightningminerals.com.au | (08) 9429 8806 Intersections up to 94m Width at Esperança Project in Brazil (26 September 2025) Drilling has confirmed the presence of a pegmatite system in the locality. Low lithium grades have been encountered but geochemical analysis and vectoring will be utilised to determine fractionation trends and a potential lithium source region. Drilling was expedited on the Esperança project area following the discovery of spodumene at Esperança in artisanal workings (ASX Announcement 18 November 2024) and subsequent confirmation of spodumene through Raman Spectroscopy (ASX Announcement 17 January 2025). Soil sampling programs at the Esperança, Caraíbas and Canabrava projects have provided peak soil assays of up to 429ppm lithium at Caraíbas, 320ppm lithium at Canabrava and multiple target areas for follow up detailed surface mapping across all three project areas. Nine of fourteen holes drilled have intersected significant zones of pegmatite. Intercepts over 25m downhole include: • Hole DHLM001: Downhole pegmatite intersection of 26.20m from 1.60m • Hole DHLM002: Downhole pegmatite intersection of 22.35m from 27.15m • Hole DHLM004: Downhole pegmatite intersection of 30.05m from 2.05m • Hole DHLM005: Downhole pegmatite intersection of 45.58m from 5.10m • Hole DHLM007: Downhole pegmatite intersection of 19.08m from 5.95m • Hole DHLM008: Downhole pegmatite intersection of 39.90m from 6.88m • Hole DHLM009: Downhole pegmatite intersection of 47.69m from 55.75m • Hole DHLM010: Downhole pegmatite intersection of 94.62m from 59m • Hole DHLM011: Downhole pegmatite intersection of 18.65m from 77.55m The drill program has provided essential spatial information on the shape and orientation of the Esperança pegmatite, suggesting the pegmatite has been truncated by a late-stage sinistral strike slip fault located approximately 120m to the east of the spodumene discovery in the artisanal workings hosting occurrences of spodumene minerals. The field geology team are focusing their reconnaissance activities to search for repeating structures on the eastern side of the fault where the pegmatite may continue within the Esperança tenement. Focus is also on reconnaissance to the south of the identified pegmatites to identify repeating structures that may be in a more favorable fractionation location. Figures 5 to 7 show plan and cross-section views of Esperança drill results. The scale of the identified pegmatites is considered encouraging however the depth of weathering has been greater than expected, to vertical depths of up to 50m below surface. The drill program has mainly targeted pegmatites in the top 80m from surface, with the exception of drill hole DHLM010 that intercepted pegmatites down to a depth of 140m below surface. This approach has been deliberate to maximise near surface identification of pegmatites and strike extent. With geochemical data now available at depth the potential for deeper drilling is being evaluated as well as identification of pegmatites both to the east and south of the currently drilled area. The drill hole geochemistry in association with follow up reconnaissance mapping will guide the next round of drilling, vectoring towards additional spodumene bearing pegmatites on the Esperança Project. Reconnaissance mapping and rock sampling is being used to help vector towards potentially spodumene bearing pegmatites on the Caraíbas and Canabrava Projects. Level 11, 40 The Esplanade, Perth, Western Australia, Australia | admin@lightningminerals.com.au | (08) 9429 8806 Figure 5: Plan view of drill locations and identified pegmatite trend at the Esperança project Figure 6: Cross section of drillholes DHLM001, 002, 007, 008, and 009 at the Esperança project Level 11, 40 The Esplanade, Perth, Western Australia, Australia | admin@lightningminerals.com.au | (08) 9429 8806 Figure 7: Cross section of drillhole DHLM005 PROJECT GENERATION The Company has continued to review project opportunities during the Quarter. The principal output of these works has been the acquisition of Lotus Minerals (ASX Announcement 30 June 2025) and approval of this acquisition at the Company’s EGM on 26 August 2025 (ASX Announcement 26 August 2025). Level 11, 40 The Esplanade, Perth, Western Australia, Australia | admin@lightningminerals.com.au | (08) 9429 8806 Figure 8: Queensland, New South Wales and Victoria asset locations Level 11, 40 The Esplanade, Perth, Western Australia, Australia | admin@lightningminerals.com.au | (08) 9429 8806 Figure 9: Esperança, Caraíbas and Canabrava project location, Minas Gerais, Brazil Level 11, 40 The Esplanade, Perth, Western Australia, Australia | admin@lightningminerals.com.au | (08) 9429 8806 Figure 10: Lightning Minerals’ Brazilian tenements in in the Lithium Valley region of Minas Gerais Level 11, 40 The Esplanade, Perth, Western Australia, Australia | admin@lightningminerals.com.au | (08) 9429 8806 Figure 11: Lightning Minerals’ Australian project tenement summary Level 11, 40 The Esplanade, Perth, Western Australia, Australia | admin@lightningminerals.com.au | (08) 9429 8806 Figure 12: Location of Dundas project tenements Level 11, 40 The Esplanade, Perth, Western Australia, Australia | admin@lightningminerals.com.au | (08) 9429 8806 Figure 13: Dalmas and Hiver project locations, James Bay, Quebec Level 11, 40 The Esplanade, Perth, Western Australia, Australia | admin@lightningminerals.com.au | (08) 9429 8806 FINANCE EXPLORATION EXPENDITURE The Company spent A$278,000 on direct exploration activities during the period, focused principally on preparing for drilling at the Company’s Mt Turner Gold Project in Queensland plus target generation works in Brazil at the Company’s Caraíbas, Esperança and Canabrava Lithium Projects. The Company has cash and cash equivalents of A$1.204 Million at 30 September 2025. CHANGE IN BOARD OF DIRECTORS AND DIRECTOR’S INTERESTS During the Quarter the following change of Director’s interests took place and are related to the A$2.0 million capital raise completed during the period. Director Number Acquired Number Disposed Number Held After Change Mr Alexander Biggs 875,000 shares (at A$0.04 per share) Director participation in placement approved by shareholders on 26/08/25 Nil 1,472,035 Shares (L1M) 132,143 Option (L1MO) 750,000 Options (Exercise price A$0.25) 1,745,454 Performance Rights (A) 250,000 Performance Rights (B) 500,000 Performance Rights (C) 500,000 Performance Rights (D) Mr Craig Sharpe 625,000 shares (at A$0.04 per share) Director participation in placement approved by shareholders on 26/08/25 Nil 1,825,000 Shares (L1M) 450,000 Options (L1MO) 1,400,000 Options (Exercise price of $0.25) 436,364 Performance Rights FINANCING As part of the acquisition of Lotus Minerals, the Company completed a capital raising of A$2.0 million by the issue of 50,000,000 Shares at an issue price of $0.04 (Placement Shares) and 14,733,331 unquoted options exercisable at $0.075 each and expiring three (3) years from the date of issue (Placement Options) (Placement). The Placement Options have been allocated at the discretion of GBA Capital Holdings. The Placement took place in two tranches as follows: (a) 15,499,248 Placement Shares to be issued utilising the Company’s placement capacity under Listing Rule 7.1, raising a total of A$619,970 (before costs) (Tranche 1) which was settled on the 4th July; and (b) 34,500,752 Placement Shares and 14,733,331 Placement Options which received shareholder approval at the Company’s EGM on 26 August 2025 (ASX Announcement 26 August 2025) pursuant to Listing Rule 7.1, to raise a total of A$1,380,030 before costs (Tranche 2). The Company engaged GBA Capital Holdings and Canaccord Genuity who acted as the Company’s joint lead managers and broker in connection with the Placement and received a fee of 6%. GBA Capital Holdings received its fee in the form of Shares and were issued 5,000,000 Shares, which was approved at the Company’s EGM on 26 August 2025 (ASX Announcement 26 August 2025). Level 11, 40 The Esplanade, Perth, Western Australia, Australia | admin@lightningminerals.com.au | (08) 9429 8806 OTHER DISCLOSURES As disclosed under item 6.1 in the Appendix 5B and under ASX listing rule 5.3.5, the Company made payments for a total consideration of A$99,307 relating to payments for Executive and Non-Executive Directors for Director’s normal monthly fees and undertaking additional duties to support corporate and exploration activities. CAPITAL STRUCTURE The capital structure at 30 September 2025 is as follows. Ordinary Shares 189,203,319 Ordinary Shares Options 40,389,258 L1MO : Listed Options (each exercisable at A$0.25 each expiring 13/03/28) 14,733,331 Options (each exercisable at A$0.075 each expiring 18/09/28) 6,000,000 Options (each exercisable at A$0.105 each expiring 18/06/27) 5,450,000 Options (each exercisable at A$0.25 each expiring 27/09/27) 5,000,000 Options (each exercisable at A$0.25 each expiring 14/11/26) 80,000 Options (each exercisable at A$0.30 each expiring 06/04/27) 110,000 Options (each exercisable at A$0.40 each expiring 06/04/27) 140,000 Options (each exercisable at A$0.50 each expiring 06/04/27) 400,000 Options (each exercisable at A$0.075 each expiring 14/08/29) 200,00 Options (each exercisable at A$0.25 each expiring 14/08/29) 350,000 Options (each exercisable at A$0.105 each expiring 14/08/29) Performance Shares 4,800,000 Class A Performance Rights Restricted (each vest upon 25 cent VWAP expiring 18/11/2027) 250,000 Class B Performance Rights (each vest upon 50 cent VWAP expiring 23/11/28) 500,000 Class C Performance Rights (each vest upon 75 cent VWAP expiring 23/11/28) 500,000 Class D Performance Rights (each vest upon $1.00 VWAP expiring 23/11/28) 14,285,714 Class E Performance Rights (each vest upon Resource of at least 5Mt @ 1.00% Li20 for Caraíbas or Sidrônio (now named Canabrava) project expiring 18 June 2027) 14,285,714 Class F Performance Rights (each vest upon Resource of at least 10Mt @ 1.00% Li20 for Caraíbas or Sidrônio (now named Canabrava) project expiring 18 June 2028) 11,428,571 Class G Performance Rights each vest upon Resource of at least 30Mt @ 1.00% Li20 for Caraíbas or Sidrônio (now named Canabrava) project expiring 18 June 2029) This announcement has been approved for release by the Board of Directors. -ends Level 11, 40 The Esplanade, Perth, Western Australia, Australia | admin@lightningminerals.com.au | (08) 9429 8806 ABOUT LIGHTNING MINERALS Lightning Minerals is a mineral exploration company, listed on the Australian Securities Exchange (ASX:L1M) and focused on the exploration of gold, critical minerals and lithium. The Mt Turner gold and copper project provides the Company with access to these strong markets through near term, brownelds projects in Australia as well as the Boree Creek copper and gold porphyry project in the Lachlan Fold Belt of NSW. The Company also owns the Caraíbas, Canabrava and Esperança lithium projects in Minas Gerais, Brazil, the Dundas projects in Western Australia, the Dalmas and Hiver lithium projects in Quebec, Canada. The Company also holds other projects in Western Australia which include Mt Bartle and Mailman Hill which are prospective for gold, base metals and critical minerals. FORWARD LOOKING STATEMENTS Information included in this release constitutes forward-looking statements. Often, but not always, forward looking statements can generally be identied by the use of forward-looking words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “continue”, and “guidance”, or other similar words and may include, without limitation, statements regarding plans, strategies and objectives of management, anticipated production or construction commencement dates and expected costs or production outputs. Forward looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance and achievements to differ materially from any future results, performance or achievements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange uctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licences and permits and diminishing quantities or grades of reserves, political and social risks, changes to the regulatory framework within which the Company operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation. Forward looking statements are based on the Company and its management’s good faith assumptions relating to the nancial, market, regulatory and other relevant environments that will exist and affect the Company’s business and operations in the future. The Company does not give any assurance that the assumptions on which forward looking statements are based will prove to be correct, or that the Company’s business or operations will not be affected in any material manner by these or other factors not foreseen or foreseeable by the Company or management or beyond the Company’s control. Although the Company attempts and has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in forward looking statements, there may be other factors that could cause actual results, performance, achievements or events not to be as anticipated, estimated or intended, and many events are beyond the reasonable control of the Company.Accordingly, readers are cautioned not to place undue reliance on forward looking statements. Forward looking statements in these materials speak only at the date of issue. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, in providing this information the Company does not undertake any obligation to publicly update or revise any of the forward-looking statements or to advise of any change in events, conditions or circumstances on which any such statement is based. COMPETENT PERSONS STATEMENT The information contained herein that relates to exploration results is based on information compiled or reviewed by Mr Matthew Watson, who is a Competent Person and a member of the Australasian Institute of Mining and Metallurgy. Mr Watson is a full-time employee of the Company. Mr Watson has sufficient experience which is relevant to the style of mineralisation and types of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Persons as dened in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Watson consents to the inclusion of his name in the matters based on the information in the form and context in which it appears. Mr Watson holds options in Lightning Minerals. REFERENCES TO PREVIOUS ANNOUNCEMENTS The Company conrms that it is not aware of any new information or data that materially affects the information included in the original market announcements, and that all material assumptions and technical parameters have not materially changed. The Company also conrms that the form and context in which the Competent Person’s ndings are presented have not been materially modied from the original market announcement. Level 11, 40 The Esplanade, Perth, Western Australia, Australia | admin@lightningmi