New Risk • Mar 18
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$2.2m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$2.2m free cash flow). Share price has been highly volatile over the past 3 months (20% average weekly change). Earnings have declined by 26% per year over the past 5 years. Shareholders have been substantially diluted in the past year (183% increase in shares outstanding). Revenue is less than US$1m (AU$355k revenue, or US$253k). Market cap is less than US$10m (AU$9.24m market cap, or US$6.57m). Announcement • Dec 05
Askari Metals Limited has filed a Follow-on Equity Offering in the amount of AUD 1.15 million. Askari Metals Limited has filed a Follow-on Equity Offering in the amount of AUD 1.15 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 115,000,000
Price\Range: AUD 0.01
Transaction Features: Subsequent Direct Listing New Risk • Nov 29
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 19% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (19% average weekly change). Earnings have declined by 33% per year over the past 5 years. Shareholders have been substantially diluted in the past year (124% increase in shares outstanding). Revenue is less than US$1m (AU$30k revenue, or US$20k). Market cap is less than US$10m (AU$7.18m market cap, or US$4.71m). Announcement • Nov 28
Askari Metals Limited (ASX:AS2) acquired Hong Kong Xingxu Mining International Investment Co, Ltd. from Xingguang Group Limited. Askari Metals Limited (ASX:AS2) entered into a binding optional share swap and joint venture agreement to acquire Hong Kong Xingxu Mining International Investment Co, Ltd. from Xingguang Group Limited for AUD 1.1 million on July 8, 2025. Pursuant to the Agreement, the following consideration is payable: AUD 0.2 million in cash on the day of completion to reimburse previous exploration and management costs for the Nejo Gold Project and AUD 0.2 million in fully paid ordinary shares in the Askari Metals Limited (Shares) subject to shareholder approval, with a minimum price of 1 cent per share. These shares will be held in voluntary escrow for 12 months; 20 million unlisted options (exercise price of 6 cents, expiry date of 3 years) subject to shareholder approval; in addition M1 Deferred Consideration of AUD 0.2 million split equally between cash AUD 0.1 million and shares AUD 0.1 million contingent on announcing a JORC-compliant Mineral Resource Estimate of at least 1,000,000 ounces of gold. Payment and issuance occur within 7 business days of meeting this hurdle and M2 Deferred Consideration of the issue of AUD 0.2 million split equally between cash AUD 0.1 million and shares AUD 0.1 million contingent on announcing a JORC-compliant Mineral Resource Estimate of at least 2,000,000 ounces of gold. Payment and issuance occur within 7 business days of meeting this hurdle, and AUD 0.15 million cash payment and the issue of AUD 0.15 million worth of shares on the date which is twelve months from the date of completion under the Agreement; and a 1% gross revenue royalty from all gold concentrates (or otherwise) produced and sold from the Project capped at AUD 7 million. Xingxu Mining holds a 100% interest in the Nejo Gold Project, which is located in Western Ethiopia.
The Agreement otherwise contains standard terms and conditions that are customary for a transaction of this nature. The transaction is subject to approval of offer by acquirer shareholders and consummation of due diligence investigation.
As of August 4, 2025, Askari Metals Limited has completed technical due diligence at the flagship advanced brownfields Nejo Gold and Copper Project.
Askari Metals Limited (ASX:AS2) completed the acquisition of Hong Kong Xingxu Mining International Investment Co, Ltd. from Xingguang Group Limited on November 26, 2025. Pursuant to the binding share swap and joint venture agreement (Agreement) and the recent shareholder approval obtained, the Company confirms that it has issued 14,285,714 fully paid ordinary shares and 20,000,000 unlisted options (6 cent strike / 3-year term) to Shining Star International Holdings Limited. The cash completion payment has also been completed pursuant to the Agreement. These shares are subject to 12-months voluntary escrow from the date of issue. Announcement • Oct 21
Askari Metals Limited, Annual General Meeting, Nov 28, 2025 Askari Metals Limited, Annual General Meeting, Nov 28, 2025. Announcement • Oct 04
Askari Metals Limited has filed a Follow-on Equity Offering in the amount of AUD 1.497433 million. Askari Metals Limited has filed a Follow-on Equity Offering in the amount of AUD 1.497433 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 149,743,259
Price\Range: AUD 0.01
Discount Per Security: AUD 0.0006
Transaction Features: Rights Offering New Risk • Oct 01
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$2.8m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$2.8m free cash flow). Share price has been highly volatile over the past 3 months (28% average weekly change). Earnings have declined by 33% per year over the past 5 years. Shareholders have been substantially diluted in the past year (359% increase in shares outstanding). Revenue is less than US$1m (AU$30k revenue, or US$20k). Market cap is less than US$10m (AU$5.40m market cap, or US$3.56m). New Risk • Sep 30
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (28% average weekly change). Earnings have declined by 37% per year over the past 5 years. Shareholders have been substantially diluted in the past year (359% increase in shares outstanding). Revenue is less than US$1m (AU$543 revenue, or US$359). Market cap is less than US$10m (AU$5.40m market cap, or US$3.57m). Minor Risk Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Announcement • Sep 13
Forrestania Resources Limited (ASX:FRS) signed Binding heads of agreement to acquire First Western Gold Pty. Ltd. from Askari Metals Limited (ASX:AS2) for AUD 0.7 million. Forrestania Resources Limited (ASX:FRS) signed Binding heads of agreement to acquire First Western Gold Pty. Ltd. from Askari Metals Limited (ASX:AS2) for AUD 0.7 million on September 12, 2025. The Total consideration of AUD 0.7 million, payable in cash and shares i.e., Pay to Askari the amount of AUD 0.25 million in cash and The Company will issue 2,223,321 Shares equal to AUD 0.45 million. Completion is subject to the following conditions precedent i.e., Completion of financial, legal and technical due diligence by FRS on FWG and the tenements, to the absolute discretion of FRS within 21 days of the Execution Date, Askari and FRS obtaining all necessary third-party approvals, waivers and/or consents required (to the extent required) to permit the transaction contemplated by the agreement; and All warranties being correct and not misleading or deceptive during the period between the execution of the agreement and settlement and Askari providing written confirmation of the same for the benefit of FRS. As part of the transaction, subject to Askari Metals shareholder approval. The agreement is otherwise on standard terms and conditions for a share sale agreement. The Company expects completion under the Agreement by no later than December 20, 2025. Announcement • Jul 09
Askari Metals Limited (ASX:AS2) entered into a binding optional share swap and joint venture agreement to acquire Hong Kong Xingxu Mining International Investment Co, Ltd. from Xingguang Group Limited for AUD 1.1 million. Askari Metals Limited (ASX:AS2) entered into a binding optional share swap and joint venture agreement to acquire Hong Kong Xingxu Mining International Investment Co, Ltd. from Xingguang Group Limited for AUD 1.1 million on July 8, 2025. Pursuant to the Agreement, the following consideration is payable: AUD 0.2 million in cash on the day of completion to reimburse previous exploration and management costs for the Nejo Gold Project and AUD 0.2 million in fully paid ordinary shares in the Askari Metals Limited (Shares) subject to shareholder approval, with a minimum price of 1 cent per share. These shares will be held in voluntary escrow for 12 months; 20 million unlisted options (exercise price of 6 cents, expiry date of 3 years) subject to shareholder approval; in addition M1 Deferred Consideration of AUD 0.2 million split equally between cash AUD 0.1 million and shares AUD 0.1 million contingent on announcing a JORC-compliant Mineral Resource Estimate of at least 1,000,000 ounces of gold. Payment and issuance occur within 7 business days of meeting this hurdle and M2 Deferred Consideration of the issue of AUD 0.2 million split equally between cash AUD 0.1 million and shares AUD 0.1 million contingent on announcing a JORC-compliant Mineral Resource Estimate of at least 2,000,000 ounces of gold. Payment and issuance occur within 7 business days of meeting this hurdle, and AUD 0.15 million cash payment and the issue of AUD 0.15 million worth of shares on the date which is twelve (12) months from the date of completion under the Agreement; and a 1% gross revenue royalty from all gold concentrates (or otherwise) produced and sold from the Project capped at AUD 7 million.
Xingxu Mining holds a 100% interest in the Nejo Gold Project, which is located in Western Ethiopia.
The Agreement otherwise contains standard terms and conditions that are customary for a transaction of this nature. Announcement • May 18
Askari Metals Limited has announced a Derivatives Offering in the amount of AUD 0.033553 million. Askari Metals Limited has announced a Derivatives Offering in the amount of AUD 0.033553 million.
Security Name: Options
Security Type: Equity Option
Securities Offered: 33,552,990
Price\Range: AUD 0.001
Transaction Features: Rights Offering Announcement • Apr 16
Askari Metals Limited Announces Board Changes Askari Metals Limited announced the following board and management changes as it advances its transition strategy and continues to evaluate new growth opportunities. Mr. Tim Morrison, a highly accomplished and respected resources industry professional, has been appointed to the Board of Askari Metals as a Non-Executive Director. The appointment of Mr. Morrison will bolster the Company's corporate expertise and occurs in line with the Company's continued focus on delivering on its strategic objectives and its drive to be a highly disciplined African explorer and developer. Mr. Morrison possesses extensive strategic experience which will assist the Company during this pivotal period as the Company continues to evaluate additional project opportunities across Africa which are complementary to the existing portfolio. Mr. Morrison has over 20 years' experience in senior roles developing early-stage resource companies and has had a range of notable successes in that time. He has been involved in raising significant capital for resource projects across exchanges globally. His experience in developing junior resource companies will be valuable to Askari as it moves forward into the next phase. Mr. Morrison is also currently Executive Chairman of Trigg Minerals Limited and Non- Executive Chairman of London Stock Exchange listed Harena Resources Plc. The Company has accepted the resignation of non-executive directors, Mr. Leonard Math and Mr. Lincoln Ho effective immediately to allow them to focus on other business activities. Announcement • Jan 17
Askari Metals Limited has completed a Follow-on Equity Offering in the amount of AUD 0.35 million. Askari Metals Limited has completed a Follow-on Equity Offering in the amount of AUD 0.35 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 15,909,091
Price\Range: AUD 0.011
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 10,937,500
Price\Range: AUD 0.016
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Announcement • Jan 03
Askari Metals Limited has filed a Follow-on Equity Offering in the amount of AUD 0.35 million. Askari Metals Limited has filed a Follow-on Equity Offering in the amount of AUD 0.35 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 15,909,091
Price\Range: AUD 0.011
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 10,937,500
Price\Range: AUD 0.016
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing New Risk • Dec 08
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 176% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (20% average weekly change). Earnings have declined by 46% per year over the past 5 years. Shareholders have been substantially diluted in the past year (176% increase in shares outstanding). Revenue is less than US$1m (AU$12k revenue, or US$7.4k). Market cap is less than US$10m (AU$2.77m market cap, or US$1.77m). Announcement • Nov 30
Askari Metals Limited has completed a Follow-on Equity Offering in the amount of AUD 1.507229 million. Askari Metals Limited has completed a Follow-on Equity Offering in the amount of AUD 1.507229 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 83,201,836
Price\Range: AUD 0.016
Discount Per Security: AUD 0.00096
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 4,750,000
Price\Range: AUD 0.016
Discount Per Security: AUD 0.00096
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 6,250,000
Price\Range: AUD 0.016
Transaction Features: Subsequent Direct Listing Announcement • Oct 04
Askari Metals Limited, Annual General Meeting, Nov 29, 2024 Askari Metals Limited, Annual General Meeting, Nov 29, 2024. New Risk • Oct 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Revenue is less than US$1m (AU$19k revenue, or US$13k). Market cap is less than US$10m (AU$2.16m market cap, or US$1.49m). Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Shareholders have been diluted in the past year (30% increase in shares outstanding). Announcement • Sep 26
Askari Metals Limited announced that it expects to receive AUD 0.92 million in funding Askari Metals Limited announced it has entered into a convertible note trust deed to issue convertible notes for gross proceeds AUD 920,000 on September 24, 2024. The Company is proposing to seek the required shareholder approvals under the Convertible Note Deed. The notes will mature 24 months from the date of issue. Escrow period is up to Until October 31, 2024. Each Convertible Note is convertible into Shares at the Noteholder’s election at a conversion price equal to the lower of AUD 0.065; and 15% discount to 5 trading day VWAP, provided that the conversion price calculated in accordance with this paragraph is not less than AUD 0.01, and where the calculation would result in a Conversion Price less than AUD 0.01, the Conversion Price will be AUD 0.01. Announcement • Aug 02
Askari Metals Limited Announces Executive Changes Askari Metals Limited announced the appointment of Mr. Leonard Math as Company Secretary of the Company. Mr. Math is a Chartered Accountant with more than 15 years of resources industry experience. He previously worked as an auditor at Deloitte and is experienced with public company responsibilities including ASX and ASIC compliance, control and implementation of corporate governance, statutory financial reporting and shareholder relations. Mr. Math has held multiple Director, CFO and Company Secretary roles for ASX listed companies, particularly in the uranium and lithium resource sector and including companies operating in Africa. Mr. Paul Fromson has stepped down from his role as Company Secretary and will remain as the Company's Chief Financial Officer. For the purposes of ASX Listing Rule 12.6, Mr. Leonard Math will be the person responsible for communications between the Company and ASX. New Risk • May 28
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Revenue is less than US$1m (AU$19k revenue, or US$13k). Market cap is less than US$10m (AU$5.37m market cap, or US$3.58m). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (31% increase in shares outstanding). Announcement • May 10
Askari Metals Limited has withdrawn its Follow-on Equity Offering in the amount of AUD 1.90546 million. Askari Metals Limited has withdrawn its Follow-on Equity Offering in the amount of AUD 1.90546 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 29,314,767
Price\Range: AUD 0.065 Announcement • Mar 23
Askari Metals Limited has filed a Follow-on Equity Offering in the amount of AUD 1.90546 million. Askari Metals Limited has filed a Follow-on Equity Offering in the amount of AUD 1.90546 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 29,314,767
Price\Range: AUD 0.065 Announcement • Mar 22
Askari Metals Limited has filed a Follow-on Equity Offering in the amount of AUD 1.600001 million. Askari Metals Limited has filed a Follow-on Equity Offering in the amount of AUD 1.600001 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 18,103,178
Price\Range: AUD 0.065
Discount Per Security: AUD 0.0039
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 6,512,215
Price\Range: AUD 0.065
Discount Per Security: AUD 0.0039
Transaction Features: Subsequent Direct Listing Announcement • Jan 29
Askari Metals Limited Announces Directorate Changes Askari Metals Limitedn announced appointment of Mr. Joseph Clarry to the Board of Directors as Technical Director (Geology). The appointment follows the pivot to a more traditional, systematic exploration model at the Uis Lithium Project, Namibia. Mr. Clarry has more than 20 years of technical experience spanning across multiple commodities including lithium (spodumene), copper, nickel, uranium, gold and iron ore with a particular focus on projects located in Africa. Mr. Clarry previously held a role as Exploration Manager for Atlantic Lithium Limited (ASX. A11) where he was responsible for planning and implementing a number of lithium (spodumene) exploration campaigns across Ghana. Mr. Clarry has also held a number of senior roles including as Senior Exploration Geologist with BHP in Liberia as well as principal of a geo-consultancy company operating in West Africa servicing several clients across multiple commodities, including several major mining companies over a 10-year period. Joseph is also a member of the Australian Institute of Geoscientists. Announcement • Oct 20
Askari Metals Limited, Annual General Meeting, Nov 24, 2023 Askari Metals Limited, Annual General Meeting, Nov 24, 2023, at 11:00 W. Australia Standard Time. Agenda: To receive and consider the annual financial report of the Company for the financial year ended 30 June 2023 together with the declaration of the Directors, the Director's report, the Remuneration Report and the auditor's report; to consider adoption of the Remuneration report; to consider election of directors; to consider ratification of prior issue of options to institutional investors; and to consider other matters. Announcement • Oct 10
Askari Metals Limited (ASX:AS2) acquired AstralL Dynamix from AstralL Dynamix Mining Investment CC. Askari Metals Limited (ASX:AS2) signed an agreement to acquire AstralL Dynamix from AstralL Dynamix Mining Investment CC for AUD 0.375 Million on July 4, 2023. The Consideration consist of cash and share.Askari Metals Limited (ASX:AS2) completed the acquisition of AstralL Dynamix from AstralL Dynamix Mining Investment CC on October 10, 2023. New Risk • Sep 30
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$6.4m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$6.4m free cash flow). Revenue is less than US$1m (AU$21k revenue, or US$13k). Market cap is less than US$10m (AU$13.9m market cap, or US$8.96m). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (44% increase in shares outstanding). Announcement • Jul 06
Askari Metals Limited (ASX:AS2) signed an agreement to acquire AstralL Dynamix from AstralL Dynamix Mining Investment CC for AUD 0.375 Million. Askari Metals Limited (ASX:AS2) signed an agreement to acquire AstralL Dynamix from AstralL Dynamix Mining Investment CC for AUD 0.375 Million on July 4, 2023. The Consideration consist of cash and share. Announcement • Jun 03
Askari Metals Limited Appoints Cliff Fitzhenry to the New Role of Chief Exploration and Project Manager (Africa) Askari Metals Limited announce the appointment of Cliff Fitzhenry to the new role of Chief Exploration and Project Manager (Africa). The appointment is part of the Company's aggressive exploration strategy to accelerate the drilling and development program at flagship asset, the Uis Lithium Project in Namibia, Africa. Mr. Fitzhenry will lead the in-country exploration team, overseeing the planned diamond drilling program due to commence in approximately four weeks. Recent RC drilling encountered 100-metre plus lithium- bearing mineralised pegmatites across the project area and initial diamond drilling will focus on the ~112m lithium-bearing mineralised pegmatite intersected in the south-east of EPL 7345. Mr. Fitzhenry is a seasoned Geologist with 19 years' experience, beginning his career with Anglo Platinum on the Bushveld Complex and has subsequently worked on mining and exploration projects throughout Africa including Central African Republic, Liberia, Madagascar, South Africa, Mozambique, Nigeria, Mauritania, Tanzania and Malawi. He has held senior management positions, successfully leading teams across all aspects of exploration, development and feasibility studies. Most recently he was the senior geologist for Sovereign Metals Limited delivering the maiden mineral resource estimate, and subsequent resource upgrades, of the Kasiya rutile-graphite project in Malawi. Mr. Fitzhenry holds MSc and BSc Honours (cum laude) degrees from the University of KwaZulu Natal (South Africa) and is a Registered Professional Natural Scientist in South Africa. Announcement • May 26
Askari Metals Limited (ASX:AS2) completed the acquisition of remaining 10% interest in Uis Lithium-Tantalum-Tin Project, located in Namibia, Africa from Jenny Eliane van der Walt. Askari Metals Limited (ASX:AS2) executed a binding agreement to acquire the remaining 10% interest in Uis Lithium-Tantalum-Tin Project, located in Namibia, Africa from Jenny Eliane van der Walt for AUD 0.24 million on April 4, 2023. Askari Metals to pay AUD 0.01 million in cash within 5 business days of the execution of this Agreement; to issue the Vendor (or its nominee) AUD 0.105 million worth of fully paid ordinary shares in the capital of Askari Metals within 7 business days of settlement of the Acquisition; issue deferred consideration of AUD 0.045 million worth of Shares, subject to the completion of a reverse circulation (RC) drilling program(s) at the Licence of not less than 4,000m, where at least ten (10) RC drill holes intersects a mineralised interval containing a minimum lithium-oxide (Li2O) grade of 10 percent (Li2O equivalent)/ metre across not less than 10 individual drill holes anywhere over the License within 12 months of execution of this Agreement (Milestone One). AUD 0.075 million worth of Shares, subject to Askari Metals announcing to ASX a JORC (2012) compliant resource of >5,000,000 tonnes @ 1.0% Li2O on the Licence within 24 months of execution of this Agreement (Milestone Two). with effect on and from Settlement, to grant the Vendor a royalty of 0.15% of the net smelter return on all minerals produced from the Licence by the Purchaser or its successors in title (Royalty), which shall otherwise be granted on customary (AMPLA) terms. 50% of the Initial Shares will be subject to a 6-month voluntary escrow period from their date of issue; 25% of the Initial Shares will be subject to a 3-month voluntary escrow period from their date of issue; and 25% of the Initial Shares will not be subject to any escrow from their date of issue. Completion of the Acquisition is conditional upon the Parties obtaining all necessary shareholder and/or regulatory approvals required to allow the parties to lawfully complete the matters set out in this Agreement. The Conditions must be satisfied within 3 months of execution of this Agreement. If Conditions have not been satisfied or waived by 5:00pm (WST) on the dates specified above, or such other date agreed by the Parties, a Party may terminate this Agreement by notice in writing to the other Parties.
Askari Metals Limited (ASX:AS2) completed the acquisition of remaining 10% interest in Uis Lithium-Tantalum-Tin Project, located in Namibia, Africa from Jenny Eliane van der Walt on May 24, 2023. Announcement • Feb 15
Askari Metals Limited Commences its Phase I RC Drilling Program on Exclusive Prospecting Licence Askari Metals Limited announced that the Company has commenced its Phase I RC drilling program on Exclusive Prospecting Licence ("EPL") 8535, part of the Uis Lithium Project, located in the Erongo Region of central-west Namibia. The Uis Lithium Project comprises both EPL 7345 and EPL 8535 and covers an area of 308.12km 2 in a highly mineralised, spodumene rich pegmatite belt with a history of prior production and exploration success. The RC drilling program commenced on 12 February 2023 with the Company having already completedsix holes at the time of this announcement. EPL 8535 forms part of the Uis Lithium Project ("Uis Project") and is located less than 17km from the town of Uis and adjacent to the operating Uis Mine, owned by London-listed Andrada Mining Limited. The project holds exceptional potential, as identified by the due diligence sample results and the very high number of pegmatites exposed at the surface, ranging from a few meters in width to more than 50m wide. Many of the pegmatites have been mined historically for tin and semi-precious stones, and altered spodumene and lepidolite are visible within the workings and the mined rock around the workings. Phase I RC drilling on EPL 8535: This first phase of drilling on EPL 8535 aims to test several high-grade lithium targets identified by the due diligence work completed by the company. Additional field activities have also identified several large-scale pegmatite targets that will be drill tested during this phase. Some of these new targets include pegmatites over 50m wide. The first drill holes have been completed and targeted the high-grade lithium zone identified by the due diligence work. The Company is also excited to test the larger pegmatite bodies identified in Areas 2, 3 and 4. FUTURE WORK: A second RC drill rig will commence the Phase II drilling program on EPL 7345 in the next few weeks, and after the completion of the mapping program on EPL 7345, the team will move to EPL 8535. The same scope of work will be applied to the work plan for this second mapping program. The mapping on EPL 8535 will inform the second phase of drilling on EPL 8535 which the Company will aim to commence as soon as possible after the completion of the mapping. Announcement • Feb 08
Askari Metals Limited Announces High Grade Lithium, Tin and Tantalum Results At EPL 8535 Askari Metals Limited announced results from due diligence samples collected during the acquisition of Exclusive Prospecting Licence ("EPL") 8535, part of the Uis Lithium Project, located in the Erongo Region of central-west Namibia. The Uis Lithium Project comprises both EPL 7345 and EPL 8535 and covers an area of 308.12km 2 in a highly mineralised, spodumene rich pegmatite belt with a history of prior production and exploration success. A total of 162 rock chip samples were collected from EPL 8535 during the due diligence phase of the tenement acquisition. Sampling was conducted over exposed pegmatites and included several old artisanal workings mined for either tin or semi-precious stones. Several of the pegmatites are characterised by coloured tourmalines (green and blue especially), as well as examples of altered/weathered spodumene and lepidolite crystals. Some weathered cassiterite was also identified. The overall outcome of the due diligence sampling campaign is exceptionally positive, yielding five results greater than 3% Li2O and eight results greater than 1% Li2O. Excellent results were also returned for tin mineralisation, with one sample assaying 3.2% SnO2 and 10 samples producing results greater than 1,875ppm Sn (0.24% SnO2). Tantalum results were highly positive, with 42 samples returning results greater than 100ppm Ta and two samples with results greater than 1,000ppm Ta. There were also indications of very strong rubidium with results up to 7,980ppm Rb. The Company commissioned a geologist and technical team to conduct a reconnaissance sampling campaign as part of the due diligence process for EPL 8535, part of the Uis Project. This involved the collection of 162 samples from exposed pegmatites and old workings in pegmatites on the Project. The pegmatites are hosted by mafic schists and metasediments and occur as post-depositional intrusions. Several specimens were collected with visible spodumene, lepidolite and cassiterite. Lithium is a mobile element and is seldom found at the surface in its original state and grade. Generally, it is leached, and a more representative lithium content of any pegmatite is usually located below the weathered horizon. With this in mind, these initial results from the Uis Lithium Project are very encouraging, with a maximum of 3.3% Li2O, with 14 samples returning results greater than 0.5% Li2O and 26 samples above 0.1% Li2O. This bodes well as an indicator for the lithium mineralisation potential below the surface at the Uis Lithium Project. Announcement • Feb 04
Askari Metals Limited Announces Project-Wide Detailed Exploration Underway at Uis Li Project Askari Metals Limited announced that the Company has commenced a project-wide detailed mapping and sampling program at EPL 7345, part of the Uis Lithium Project, located in Namibia, Africa (the "Project"). The Company has engaged Earthlab Technical, a professional mining and exploration geological consulting firm based in Johannesburg, South Africa, to complete the mapping and sampling program which has been designed to map, geologically interpret, classify and sample every pegmatite outcrop on the Project. The results will enable the Company to target future exploration activities efficiently and effectively. The Uis Lithium Project is located less than 5km from the township of Uis and less than 2.5km from the operating Uis Tin-Tantalum-Lithium mine owned and operated by Andrada Mining Ltd. (formerly AfriTin Mining plc) (LSE. ATM), within the Erongo Region of west-central Namibia. The Uis Lithium Project (EPL 7345 and EPL 8535) covers an area of 308.12km2 and boasts more than 150 mapped pegmatites across the Project area, with many of the pegmatites having been mined historically for tin and semi-precious stones. Altered spodumene is visible both within the workings and the mined rock around the workings. The detailed mapping program is designed to cover the entire Project and aims to identify various types of pegmatites, their outcrop dimensions and visible mineralogy. The mineralisation tenor of the pegmatites will also be determined by way of multiple samples collected from each outcrop. Initial reconnaissance sampling completed by the Company during the due diligence phase identified several, and various pegmatite outcrops, which were sampled with the results identifying high-grade lithium, tantalum, tin and rubidium up to 2.11% Li2O, 1.3% Sn, 658ppm Ta and 4,214 ppm Rb, refer to ASX announcement dated 16 November 2022. The initial reconnaissance campaign also indicated that there are likely multiple types of pegmatites outcropping across the Project area, including LCT pegmatites which are associated with elevated lithium grades, and caesium-depleted pegmatites, which have a higher correlation with tin and tantalum anomalism. The Project also straddles an area consisting of more mafic metasediments in the south to a more granite-dominated landscape in the north. The relationship between the host lithology, pegmatite type and mineralization are also an important deliverable of the detailed mapping project. Finally, the project aims to identify the total number of pegmatites outcropping on the Project area. Visual inspection of satellite imagery and physical inspection on the ground have highlighted a very high number of pegmatites, but a large proportion of the tenement is yet to be explored to verify potential pegmatite outcrops. The Company expects a very large number of pegmatites to be identified by the mapping program. Announcement • Jan 25
Askari Metals Limited Announces Results of the Recently Completed Field Reconnaissance Program At the Company's 100% Owned Barrow Creek Lithium Project Askari Metals Limited announced results of the recently completed field reconnaissance program at the Company's 100% owned Barrow Creek Lithium Project in the Central Northern Territory's Arunta Pegmatite Province. The program targeted an area in the south-central part of the Project and was aimed at pegmatites previously untested for lithium mineralisation but with lithologies analogous to those in the north-west and south-east area of the Barrow Creek project. The Company has identified fertile LCT pegmatite in these analogous areas stretching over 4.8km by 3.8km, as well as an anomalous area in the south-east revealing lithium grades of up to 212 ppm Li (456 ppm Li2O). Results from the program identified prospectivity for Rare Earth Elements (REE), with Total Rare Earth Oxide (TREO) results of up to 4553 ppm. The highly anomalous REE results are very encouraging, especially at a time when the world is facing REE supply deficits and supply chain issues. The Barrow Creek Pegmatite Complex trends in a north-westerly direction across the south-central project area, which includes relatively inaccessible terrain. The Company identified medium to very coarse-grained pegmatites containing potassium feldspar, plagioclase, muscovite and tourmaline. The northern portion of this area contains a large pegmatite field where pegmatites upward of 5m wide have been mapped and sampled. The mineralogy of these pegmatites is similar to that identified in the south-eastern part of the project, with potassium feldspar, plagioclase, muscovite and tourmaline being common. The southern part of the work area is covered by sandstones and sediments of the Central Mount Stuart Formation. This area was traversed using an off-road vehicle and on foot as best as the steep terrain allowed, but no prospective pegmatites were identified. Results from the work completed were reviewed and checked for anomalism for multiple commodities and also for REE potential. During this phase of the review, the TREO values were calculated, and several outliers were identified. The TREO formula used is TREO = La2O3 + Ce2O3 + Pr2O3 + Nd2O3 + Sm2O3 + Eu2O3 + Gd2O3 + Tb2O3 + Dy2O3 + Ho2O3 + Er2O3 + Tm2O3 + Yb2O3 + Y2O3 + Lu2O3. Oxides of the REE's were derived using conversion factors multiplied by the assay grade received from the lab. Further review of the results showed the most anomalous samples were positive for both heavy and light rare earth anomalism, resulting in very elevated TREO results. Anomalism for lithium was not as pronounced in the south-central project area as in other areas investigated by the Company earlier in 2022. A minor tantalum anomalism was identified and will be included in follow-up work. The sample results reveal a felsic to intermediate host when calculating host geology using whole rock analysis. Samples also identified a slight zinc and tantalum anomalism, but the REE review identified several highly anomalous sample results, including an outstanding result of 4553 ppm TREO (formula for TREO calculation provided in the section above). The anomalous REE (TREO) sample results obtained from the south-central field program are clustered around two large granite outcrops. Other samples with elevated results above 500 ppm TREO were also found farther afield, signifying the potential for enlarging the REE mineralised footprint through follow-up phases of work. Follow-up work is planned to investigate further REE potential in the south-central portion of the project as well as the project as a whole. The lithium potential of the north-western and south-eastern parts of the project must also be further investigated, and Aboriginal Areas Protection Authority (AAPA) certificates have been applied for by the Company. During this phase of the review, the TREO values were calculated, and several outliers were identified. The TREO formula used is TREO = La2O3 + Ce2O3 + Pr2O3 + Nd2O3 + Sm2O3 + Eu2O3. Announcement • Jan 17
Askari Metals Limited Completes Inaugural RC Drilling Campaign at the Horry Copper and Gold Project Askari Metals Limited announced the results of the inaugural RC drilling campaign completed at the Company's 100% owned Horry Copper and Gold Project located in the Kimberley region of Western Australia. The drilling campaign's main target was the copper and gold mineralisation at the Horry Horse prospect, where the bulk of the approximately 2,100m program was focused. The mineralisation at Horry Horse outcrops over more than 400m and has been validated by several rock samples with results including 8.5% Cu and 3.77% Cu. The results of the drilling program identified several intervals greater than 1% Cu and 1 g/t gold, and also indicated several sub-parallel mineralised lodes at both the Horry Horse and Mt Dockrell prospects. The results are considered very positive and culminates in new and additional targets being identified on the Horry Project for future follow-up exploration activities. Discussion of Results: The RC drilling program was designed to test the copper mineralisation at the Horry Horse prospect and the gold mineralisation at the Mt Dockrell prospect. The copper mineralisation at the Horry Horse prospect manifests as outcropping malachite mineralisation within a shear hosted in metamorphosed intermediate sediments. The drill design here aimed to test the 400m long line of exposed malachite mineralisation visible in a shear zone at surface. The design also tested the extension of the mineralisation at depth beyond where the visible mineralisation outcrops. The host of the gold mineralisation at the Mt Dockrell prospect is not clear, but an area of increased gold anomalism was identified by way of soil sampling and gold loaming conducted by the Company in the months leading up to the drilling program. The drill design at the Mt Dockrell prospect was aimed to identify potential mineralised hosts since the mineralisation seems to be "blind" on surface. Six holes were drilled in three lines to test the mineralisation in the Mt Dockrell prospect area. Copper Mineralisation at Horry Horse Prospect Twenty-three holes totalling 1,710m were drilled in seven lines over more than 400 meters to test the outcropping malachite mineralisation at the Horry Horse prospect. Three to four holes were drilled below each other on each line to identify the dip of the mineralisation, while the various lines were designed to give an indication of the mineralised strike. The drilling identified that the mineralised structure is dipping at 70-75 degrees to the south, and also that there is more than one such sub-parallel unit striking to the northeast. Some of the deeper holes intersected the northern-most zone of mineralisation, but additional drilling will be required to test this unit along strike and down dip. Three holes intersected very promising results including 4m @ 1.8% Cu from 24m in HRRC22001 which includes 2m @ 3.6% Cu & 0.2g/t Au from 26m. A further insersection of 3m @ 1.0% Cu from 18m was drilled in HRRC22003, including 1m @ 2.8% Cu & 0.2g/t Au from 19m. Hole HRRC22016 also intersected 1m @ 0.8% Cu from 64 meters. Gold Mineralisation at Mt Dockrell Prospect: Six holes for 388 meters was drilled in three lines at the Mt Dockrell prospect aimed at identifying the host of the gold mineralisation which is not evident at the surface. The intercepts identified a southerly dip of about 70-75 degrees, but the strike is not yet clear. Initial interpretation of the intercepts here in conjunctiuon with high definition magnetic data gathered earlier in 2022, is that the strike is to the northeast, but additional drilling programs will be considered to further test the mineralisation here at Mt Dockrell. Future Work: The Company is pleased that the inaugural drilling program on the Horry Copper and Gold Project was a success and is in the process of reviewing all the data with the aim of designing additional phases of drilling for execution in 2023. Announcement • Dec 15
Askari Metals Limited Announces Completion of Phase I Rc Drilling Program At Uis Lithium Project in Namibia, Africa Askari Metals Limited announced that the company has completed its maiden RC exploration drilling campaign at the Uis Lithium Project located in Namibia, Africa. The Phase I RC drilling campaign (EPL 7345) comprised of 59 individual drill holes for a total of 3,017m of drilling. This initial phase of RC drilling is part of an overall 10,000m RC drilling campaign which will be completed over three phases at EPL 7345. High-grade lithium mineralisation up to 3.1% Li2O has been sampled at surface at the Uis Project, which had never been drill tested. The Uis Project is located less than 5km from the township of Uis and less than 2.5km from the operating Uis Tin-Tantalum-Lithium Mine owned and operated by AfriTin Mining plc (LSE. ATM), within the Erongo Region of west-central Namibia. The Uis Project boasts more than 100 mapped pegmatites across the project area, with many of the pegmatites having been mined historically for tin and semi-precious stone. An abundance of altered spodumene is visible both within the workings and the mined rock around the workings. The map below provides an overview of the location of the Uis Project relative to the infrastructure servicing the region and the location of the operating Uis Mine owned by AfriTin Mining plc. Phase I RC Drilling Campaign: Surface exploration activities conducted by the Company at the Uis Lithium Project identified extensive areas of high-grade lithium mineralisation in pegmatite dykes near the Uis Mine owned and operated by AfriTin Mining plc (LSE. ATM) and extending parallel to the mineralisation trend for severalkilometres. This prospect area is known as the Uis Mine View prospect. The results of samples collected from the Uis Mine View prospect returned results including 3.1% Li2O, 2.11% Li2O, 0.75% Li2O, 0.56% Li2O and 0.51% Li2O as well as 1.30% Sn and 0.44% Sn as well as 432 ppm Ta and 325 ppm Ta. The Uis Mine View prospect was the main target of the drilling campaign with the majority of the meters drilled there. The campaign also tested two other targets. The second target is located near the centre of the tenement with rock sample results from this target area including 1.1% Li2O, 0.61% Li2O and 0.51% Li2O as well as 658 ppm Ta, 498 ppm Ta, 377 ppm Ta and 335 ppm Ta. The third target was an area where reconnaissance sampling identified results including 0.92% Li2O and 0.83% Li2O as well as 345 ppm Ta as well as 0.71% Sn and 0.76% Sn. A total of 59 drill holes were drilled by the Company for approximately 3,017m. Visible lithium mineralisation was intersected in the pegmatites at the Uis Lithium Project as well as visible tantalum and tin mineralisation. Future Work and Planned Exploration: The recently completed Phase I RC drilling campaign at the Uis Lithium Project will help focus subsequent phases of drilling with the results anticipated during February 2023. The Phase I drilling campaign is part of an overall 10,000m of RC drilling which will be completed across three phases. Phase II at EPL 7345 of approximately 4,000m is anticipated to commence in February 2023. In addition to follow-on drilling at EPL 7345 (Phase II), the Company will commence the Phase I RC drilling campaign of 3,000m at EPL 8535 during February 2023. The Company will also continue its surface mineralisation mapping and sampling campaign across those areas that still remain unexplored. Announcement • Dec 06
Askari Metals Limited (ASX:AS2) entered into a binding acquisition agreement to acquire 80% stake in EPL 8535 Lithium Project from Earth Dimensions Consulting (Pty) Ltd for AUD 1.6 million. Askari Metals Limited (ASX:AS2) entered into a binding acquisition agreement to acquire 80% stake in EPL 8535 Lithium Project from Earth Dimensions Consulting (Pty) Ltd for AUD 1.6 million on December 5, 2022. Completion of financial, legal and technical due diligence by the Purchaser on Earth Dimensions and the Tenements, to the absolute satisfaction of the Purchaser within 60 days of the Execution Date. The Purchaser obtaining all necessary shareholder and regulatory approvals. The Purchaser obtaining all third party approvals and consents necessary to lawfully complete the matters set out in this Agreement. Announcement • Nov 22
Askari Metals Limited Announces Uis Lithium Project RC Drilling Program Underway Askari Metals Limited announced that the Company has commenced its inaugural 3,500m RC exploration drilling campaign at the Uis Lithium Project (Uis Project) located in Namibia, Africa. The Uis Project covers an area of 113.53km2. This initial phase of RC drilling is part of an overall 10,000m RC drilling campaign which will be completed over three phases. High-grade spodumene hosted lithium mineralisation up to 3.1% Li2O has been sampled at surface at the Uis Project, which has never been drill tested. The Uis Project is located less than 5km from the township of Uis and less than 2.5km from the operating Uis Tin-Tantalum-Lithium Mine owned and operated by AfriTin Mining plc (LSE. ATM), within the Erongo Region of west-central Namibia. Swakopmund, the capital city of the Erongo Region and Namibia's fourth largest settlement, is located approximately 165km due south of the Uis Project while the Namibian capital city of Windhoek is located approximately 270km southeast of the Uis Project. The Uis Project boasts more than 80 mapped pegmatites across the project area, with many of the pegmatites having been mined historically for tin and semi-precious stone. An abundance of altered spodumene is visible both within the workings and the mined rock around the workings. The map below provides an overview of the location of the Uis Project relative to the infrastructure servicing the region and the location of the operating Uis Tin-Tantalum-Lithium Mine owned and operated by AfriTin Mining plc (LSE. ATM). Surface exploration activities conducted by the Company at the Uis Lithium Project have identified extensive areas of high-grade spodumene hosted lithium mineralisation in an area located along strike and less than 2.5km from the Uis Tin-Tantalum-Lithium Mine owned and operated by AfriTin Mining plc (LSE. ATM) extending for several kilometres in all directions. This prospect area is known as the Uis Mine View prospect. The results of samples collected from the Uis Mine View prospect has returned results including 3.1% Li2O, 2.11% Li2O, 0.75% Li2O, 0.56% Li2O and 0.51% Li2O as well as 1.30% Sn and 0.44% Sn as well as 432 ppm Ta and 325 ppm Ta. These results and the extensive outcropping surface mineralisation give the Company great confidence to commence the first-ever drilling campaign on this project. The Uis Mine View prospect will be the main target of the drilling campaign, with the majority of the meters drilled designed along its strike. Since the prospect has never been drilled, the campaign will target intersections of the mineralised unit at depths of 20m, 40m and 60m below the surface in a series of fans. The fans are designed to be about 80m apart along the strike of the outcropping mineralisation. The campaign will also test two other targets. An area containing high-grade lithium and tantalum mineralisation similar to that found at the Uis Mine View prospect was identified located near the centre of the tenement. Results from this target area include 1.1% Li2O, 0.61% Li2O and 0.51% Li2O as well as 658 ppm Ta, 498 ppm Ta, 377 ppm Ta and 335 ppm Ta. A second area to be drill tested is an area where the DD reconnaissance sampling campaign identified high-grade lithium, tin and tantalum mineralisation. Here surface exploration activities have identified lithium, tin and tantalum mineralisation through rock chip sampling with results from this target area including 0.92% Li2O and 0.83% Li2O as well as 345 ppm Ta as well as 0.71% Sn and 0.76% Sn. The first phase of RC drilling is currently underway at the Uis Lithium Project with the results anticipated to determine the focus areas for subsequent phases of drilling at the Uis Project. Hammerstein has been engaged as the drilling contractor with the Company executing a drilling contract for 10,000m of RC drilling across three phases. The initial phase of up to 3,500m of RC drilling will focus on those areas which have been prioritised based on the results of the DD sampling campaign. Announcement • Nov 17
Askari Metals Limited Receives the Results for the First Phase of Reconnaissance Exploration Surface Rock Samples Collected During the Due Diligence Period of the Project Acquisition of Exclusive Prospecting Licence (Epl) 7345, as the Uis Lithium-Tantalum-Tin Project (Uis Project) Located in Namibia Askari Metals Limited announced that it has received the results for the first phase of reconnaissance exploration surface rock samples collected during the due diligence period of the project acquisition of Exclusive Prospecting Licence (EPL) 7345, known as the Uis Lithium-Tantalum-Tin Project (Uis Project) located in Namibia. The Uis Project covers an area of 113.53km2. One hundred and ninety-six (196) rock chip samples were collected from the Uis Project during the due diligence phase of the acquisition of the Uis Project. The sampling was conducted over a large number of exposed pegmatites and included several old mine workings where the pegmatites were historically mined for either tin or semi-precious stones. The pegmatites are characterised by coloured tourmalines (green and blue in particular) as well as many examples of altered/weathered spodumene and lepidolite crystals. Some weathered cassiterite was also identified. The sample results validated and supported the field observations by returning several high-grade Lithium, Tin, Tantalum and Rubidium results. The Uis Project is located less than 5km from the township of Uis and less than 2.5km from the operating Uis Tin-Tantalum-Lithium Mine owned and operated by AfriTin Mining plc (LSE. ATM), within the Erongo Region of west-central Namibia. Swakopmund, the capital city of the Erongo Region and Namibia's fourth largest settlement, is located approximately 165km due south of the Uis Project while the Namibian capital city of Windhoek is located approximately 270km southeast of the Uis Project. The Uis Project boasts more than 80 mapped pegmatites across the project area, with many of the pegmatites having been mined historically for tin and semi-precious stone. An abundance of altered spodumene is visible both within the workings and the mined rock around the workings. The map below provides an overview of the location of the Uis Project relative to the infrastructure servicing the region and the location of the operating Uis Tin-Tantalum-Lithium Mine owned and operated by AfriTin Mining plc (LSE. ATM). Due Diligence Sampling Campaign: The Company commissioned a geologist and technical team to conduct a reconnaissance sampling campaign as part of the due diligence process for the Uis Project. One hundred and ninety-six (196) surface rock samples were collected from exposed pegmatites and old workings in pegmatites on the Uis Project. The pegmatites are hosted by mafic schists and metasediments and occur as post-depositional intrusions. Several hand specimens were collected with visible spodumene, lepidolite and cassiterite. Lithium is a mobile element and is seldom found at the surface in its original state and grade. Generally, it is leached and a more representative lithium content of any pegmatite is typically found below the weathered horizon. Given the leaching effect and mobile nature of lithium, the Company is therefore very excited by the proportion of sample results (24 samples) returned from the lab with lithium values above 1,000 ppm Li (0.22% Li2O). Discussion of results: The overall outcome of the due diligence sampling campaign is extremely positive, with 52% of the samples indicating fertile LCT (Lithium-Caesium-Tantalum) pegmatites with results above 234 ppm Li, 47 ppm Cs and 20 ppm Ta. The maximum assay results for lithium oxide, tin and tantalum are 2.1% Li2O, 1.3% Tin (Sn) and 658 ppm Tantalum (Ta), respectively. In addition to the LCT pegmatite mineral results, the results also indicate very strong rubidium results with a maximum of 4,214 ppm Rb and an average rubidium grade of 971 ppm Rb. Lithium Results: As mentioned above, lithium is highly mobile and is leached from the surface oxidised zone relatively quickly, and as a result, lithium values in the near-surface zone are often depleted. The results from the Uis Lithium Project are very encouraging and reached a maximum of 2.1% Li 2O, with 12 samples returning results greater than 0.5% Li2O and 44 samples above 0.1% Li2O. The high percentage of samples with high lithium results in the oxide zone, correlates well with the visual lithium mineralisation identified in the field and bode well as an indicator for the lithium mineralisation potential below the surface on the Uis Lithium Project. Tin Results: The operating Uis Mine owned and operated by AfriTin Mining plc boasts a resource with average tin grades of 0.134% Sn. Although rock chip sample results should not be directly compared with resource grades, it is encouraging to see that the average tin grades received from the reconnaissance program at the Uis Project are almost 0.1% Sn (940 ppm Sn). The maximum tin grade of 1.3% Sn and the fact that 27 samples returned a grade greater than 0.2% Sn are also very positive indicators to the tin mineralisation potential of the Uis Project owned by Askari Metals. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Chairman Rob Downey was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Nov 08
Askari Metals Limited Commences Extensive Soil Auger Drilling and Reconnaissance Campaign At the 100% Owned Myrnas Hill Lithium Project Askari Metals Limited announced that an extensive soil auger drilling and reconnaissance campaign has commenced at the 100% owned Myrnas Hill Lithium Project (E45/4907), located in the highly prospective eastern Pilbara region of Western Australia. The Myrnas Hill Lithium Project is considered highly prospective for hard-rock Lithium-Tin- Tantalum (Li + Sn + Ta) mineralisation and boasts the same host lithology (the North Star Basalt) as the Archer Lithium Deposit, currently being developed by Global Lithium Resources Limited. The Myrnas Hill project covers an area of approximately 35km and is considered highly prospective, given the geological setting within the project area, which is analogous to other known hard-rock Li-Sn-Ta deposits in the eastern Pilbara. The soil auger drilling program will test the targets of the recent Hyperspectral Survey and will provide the Company with additional high-priority targets that will be further tested in future exploration campaigns, consisting of possible RC and Aircore drilling. A review of the historical data over the Myrnas Hill Project identified a tantalum working and previously identified gold mineralisation that correlate well with the Company's interpreted mineralisation model on the project. The Myrnas Hill Lithium Project is hosted by favourable greenstone units and flanked to the east and west by potential granitic source magmas. The northeastern portion of the project is characterised by the same geological units as found at the Archer Lithium Project. The Myrnas Hill Project is flanked by the Pilbara Supergroup, which hosts the Pilgangoora and Marble Bar Lithium projects and the De Grey Supergroup, which surrounds the Wodgina Lithium project. Soil Auger Drilling Program The Company has designed an extensive soil auger drilling campaign consisting of more than 600 samples which will enable the Company to generate priority exploration targets for future campaigns. including possible shallow Aircore and RC drilling. The soil auger drilling campaign will follow up on those areas that were identified from the Hyperspectral Survey, but will cover almost the entire project area. Historical exploration at Myrnas Hill was focused on the gold and base metal potential of the project with no lithium-focused exploration having being undertaken. This presents a significant opportunity for the Company to implement the lithium-focused exploration model similar to what was utilised at the Company's Yarrie Lithium Project, and which has been utilised at surrounding project areas including the Dom's Hill (Kalamazoo SQM JV) and Pear Creek (Kalamazoo) projects. Certain areas of the Myrnas Hill project tenement are covered by windblown soils that obscure the geology below and auger sampling was selected to penetrate and sample below this layer. The depth of each sample may vary, but the anticipated sample depth at Myrnas Hill is one to one and a half meters. The sample is collected from the bottom of the hole by collecting it from the auger bit once the regolith is reached. The soil auger drilling campaign has been designed on a 200m x 200m grid covering the entire tenement. Hyperspectral Survey: Targets Generated The hyperspectral study at the Myrnas Hill Lithium Project identified several exploration targets. These targets will be the focus of the ground-based field exploration and reconnaissance work. Another useful exploration tool is satellite imagery, especially since LCT pegmatites are often found in dykes and/or dyke swarms which may be visible on high-quality satellite imagery. The Company is very pleased by the correlation between visible dyke-like features identified using the satellite imagery of the tenement and the targets identified by the hydrogen target map. The mafic/ultramafic geology which hosts the Myrnas Hill project is analogous to the geology which hosts some of the large hard-rock lithium projects in the eastern Pilbara. Next Phase: The soil auger program will provide valuable data and identify those areas of anomalous Lithium mineralisation. The Company will use this information to design the follow-up exploration programs, including possible Aircore and RC drilling. Announcement • Oct 25
Askari Metals Limited (ASX:AS2) executed a Binding Heads of Agreement (HoA) to acquire 90% interest in Exclusive Prospecting Licence (EPL) 7345, known as the Uis Lithium-Tantalum-Tin Project, located in Namibia, Africa from LexRox Exploration Services (Pty) Ltd for AUD 2.35 million. Askari Metals Limited (ASX:AS2) executed a Binding Heads of Agreement (HoA) to acquire 90% interest in Exclusive Prospecting Licence (EPL) 7345, known as the Uis Lithium-Tantalum-Tin Project, located in Namibia, Africa from LexRox Exploration Services (Pty) Ltd for AUD 2.35 million on October 24, 2022. Askari Metals to pay LexRox (or its nominee) AUD 0.1 million in cash within 5 business days of the execution of this Agreement; to issue the Vendor (or its nominee) AUD 1.05 million worth of fully paid ordinary shares in the capital of Askari Metals within 7 business days of settlement of the Acquisition; issue deferred consideration of AUD 0.45 million worth of Shares, subject to the completion of a reverse circulation (RC) drilling program(s) at the Licence of not less than 4,000m, where at least ten (10) RC drill holes intersects a mineralised interval containing a minimum lithium-oxide (Li2O) grade of 10 percent (Li2O equivalent)/ metre across not less than 10 individual drill holes anywhere over the License within 12 months of execution of this Agreement (Milestone One). AUD 0.75 million worth of Shares, subject to Askari Metals announcing to ASX a JORC (2012) compliant resource of >5,000,000 tonnes @ 1.0% Li2O on the Licence within 24 months of execution of this Agreement (Milestone Two). With effect on and from Settlement, to grant LexRox a royalty of 1.5% of the net smelter return on all minerals produced from the Licence by the Purchaser or its successors in title (Royalty), which shall otherwise be granted on customary (AMPLA) terms. LexRox acknowledges that: (a) 50% of the Initial Shares will be subject to a 6-month voluntary escrow period from their date of issue; (b) 25% of the Initial Shares will be subject to a 3-month voluntary escrow period from their date of issue; and (c) 25% of the Initial Shares will not be subject to any escrow from their date of issue. Completion of the Acquisition is conditional upon the satisfaction (or waiver) of completion of due diligence by the Purchaser on the Assets, to the satisfaction of the Purchaser within 60 business days from the execution of this Agreement; completion of the transfer of EPL 7345 from Jenny van der Walt to Kokerboom as endorsed by the Ministry of Mines and as lodged with the Ministry of Mines on 16 September 2022; and the Parties obtaining all necessary shareholder and/or regulatory approvals required to allow the parties to lawfully complete the matters set out in this Agreement; (together, the Conditions). Announcement • Oct 19
Askari Metals Limited Announces High-Grade Gold Intersects in Final Results At Burracoppin Askari Metals Limited announced that the Company has received the final batch of assay results for the Phase III RC drilling campaign, completed on its 100% owned Burracoppin Gold Project, located in the Wheatbelt region of Western Australia along strike of the Ramelius Resources "Edna May Gold Mine" (JORC (2012) Mineral Resource of 31Mt @ 1.0 g/t Au for 990,000 ounces of gold - refer to February 2022 resource update). In June 2022, the Company completed a third phase of drilling on the Burracoppin Gold project, comprised of forty (40) RC drill holes for 3,639m. The program tested several targets, including strike extensions of the mineralisation at Burgess Find, Christmas Gift, Lone Tree and Easter Gift. The program also tested previously unexplored targets identified by the soil geochemical anomalies. The Phase III RC drill program at the Burracoppin Gold Project was designed as an extensional program targeting potential strike extensions at Burgess Find, Christmas Gift, Benbur, Easter Gift and Lone Tree. The program also tested several targets identified by the Company's previously completed soil geochemical program. This program highlighted potential gold mineralisation in the far northern portion of the Burracoppin project and to the east of Benbur as well as at the Lone Tree working located at the southern extent of the project on an interpreted parallel structure, where no previous exploration had been completed. These geochemical anomalies represent high-value targets as they had never been tested by drilling before and may significantly increase the project's future potential based on the positive assay results received to date. Announcement • Oct 11
Askari Metals Limited Completes High-Definition Drone Magnetic Survey At the Company's 100%-Owned Callawa Copper Project Askari Metals Limited announced that the company has completed a high-definition drone magnetic survey at the company's 100%-owned Callawa Copper Project (E45/5842), located approximately 90km north-east of Marble Bar in the east Pilbara of WA. This part of WA has a reputation as `elephant country', having produced the Telfer gold mine, the Nifty copper mine and more recently, Rio Tinto's 500 million tonne Winu copper discovery, which is rated as one of the world's most significant copper discoveries of the past decade. The magnetic survey completed by the Company included 408-line kilometres and covered an area of 17.9 square kilometres (17.9km2). The quality of the interpolated magnetic data is very high and correlates well with a recent review of the sample results which identified the potential for nickel and cobalt mineralisation within the ultramafic units present within the Callawa project. High-Definition Magnetic Survey: A High-Definition drone magnetic survey was flown over the "Du Valles" prospect and surrounding areas on the Callawa project after initial reconnaissance work identified high-grade copper mineralisation at the surface, including 6.78% Cu, 4.35% Cu, 2.02% Cu and 1.85% Cu, respectively, with minor gold and silver anomalism associated with the copper mineralisation. The survey was flown with 50m line spacing for 408-line kilometres, covering an area of almost 18 square kilometres. Some sulphide copper minerals were identified in outcrops during the initial reconnaissance visit, which prompted the Company to believe that a magnetic survey may help identify potential exploration targets in the area. Historic rock chip sample results collected at the Callawa Copper Project include 9.35% Cu with 25.9 g/t Ag; and 7.63% Cu with 15.7 g/t Ag. Nickel and Cobalt Potential: A comprehensive review of the data collected by the Company earlier in 2022 has identified several samples containing highly anomalous nickel, cobalt and chromite results. The data included nickel results of up to 1610 ppm Ni, cobalt results of up to 119ppm Co and chromite results of up to 1760ppm Cr. Each of the Ni/Co/Cr results are located on a structure that was identified by the high-definition magnetic survey as a "magnetic low" or demagnetised zone, which may indicate hydrothermal fluid flow. The company is also encouraged by the fact that the design basis of the initial field reconnaissance program was to target copper mineralisation at surface and not specifically targeting nickel mineralisation, however, the samples collected contain significant amounts of nickel metal. Another encouraging aspect of the discovery is that one criterion used to describe nickel sulphide mineralisation is the Ni/Cu ratio of the host rock, and the Company believes the proximity of the surface copper mineralisation that originally drew the attention to the "Du Valles" prospect may be considered another positive trait. Further exploration activities for both the copper and nickel components of this Project's potential are planned as soon as possible. Announcement • Oct 07
Askari Metals Receives Results from the Second Tranche of Assays from Its Phase III RC Drilling Program Completed on Its 100% Owned Burracoppin Gold Project Askari Metals announced that the Company has received the results from the second tranche of assays from its Phase III RC drilling program completed on its 100% owned Burracoppin Gold Project, located in the Wheatbelt region of Western Australia along strike of the Ramelius Resources "Edna May Gold Mine" (JORC (2012) Mineral Resource of 31Mt @ 1.0 g/t Au for 990,000 ounces of gold refer to February 2022 resource update). In June 2022, the Company completed a third phase of drilling on the Burracoppin Gold project, comprised of forty (40) RC drill holes for 3,639m. The program tested several targets, including strike extensions of the mineralisation at Burgess Find, Christmas Gift, Lone Tree and Easter Gift. The program also tested previously unexplored targets identified by the soil geochemical anomalies. The Phase III RC drilling program at the Burracoppin Gold Project was designed as an extensional program targeting potential strike extensions at Burgess Find, Christmas Gift and Benbur, Easter Gift and Lone Tree. The program also tested several targets identified by the Company's previously completed soil geochemical program. This program highlighted potential gold mineralisation in the far northern portion of the Burracoppin project and to the east of Benbur. These geochemical anomalies represent highly valuable targets as they had never been tested by drilling before and may result in a significant increase in the project's future potential if they return positive results. The Phase III program did not test below and near existing areas of mineralisation. This is planned for future phases of drilling. Two holes were drilled below and along strike to the north of the Benbur prospect, testing the continuation of the mineralisation in the area. ABRC041 intersected several zones of mineralisation, including: 6m @ 2.37 g/t Au from 31m downhole in ABRC041, including 1m @ 9.54 g/t Au from 31m 2m @ 1.17g/t Au from 34m as well as 1m @ 1.17 g/t Au from 145m as well as 5m @ 1.85 g/t Au from 151m, including 2m @ 3.46g/t Au from 155m, and 1m @ 5.66g/t Au from 155m The intercepts identify three clear zones of mineralisation. A mineralised zone corresponding with a lode mined by the historical workings and shafts of the Benbur prospect was intersected between 31m and 37m downhole. A second and third zone of mineralisation, much deeper downhole, corresponds with the mineralisation intersected by the second phase of RC drilling on the Burracoppin project. The deeper zone comprises two or more individual zones in what appears to be a sheeted vein system of mineralisation. ABRC042 was drilled below the historical shaft at Benbur and intersected zones of mineralisation coincident with the historical workings but not of economic tenor. The deeper intersection, however, correlates with a parallel zone of mineralisation identified by the second phase of drilling. The results include: · 1m @ 1.93 g/t Au from 173m downhole in ABRC042 Far North - Strike Extensional Target A line of holes was drilled to the far north of the Burgess Find prospect, testing a very strong gold in soil anomaly of up to 619ppb, identified by the soil auger program completed by the Company earlier in 2022. The drilling encountered the same gold anomalism while transecting the laterite cover as was identified by the auger results but did not intersect any economic mineralisation at depth. This identifies the laterite cover as a potential surface mineralisation zone, which the Company will further evaluate. Benbur East - New Target A soil auger geochemical survey completed by the Company across several untested areas of the Burracoppin project revealed a large and highly anomalous zone of gold mineralisation to the east of the Benbur prospect. Several holes were designed and drilled to test this anomaly because it represents an untested zone of potential mineralisation, which in turn would be extremely positive for the entire Burracoppin project. Several lines of shallow RC holes drilled top-to-tail tested mineralisation, dip and strike. Sadly, none of the holes testing the northern portion of this area returned any significant results. However, the data of two holes in the south is encouraging, especially since there is still a line of holes with pending results in the southern portion of this target. ABRC045 intersected two zones of mineralisation, including: · 1m @ 1.97 g/t Au from 78m downhole, and · 1m @ 1.67 g/t Au from 99m downhole. Announcement • Oct 06
Askari Metals Limited (ASX:AS2) entered into a binding acquisition agreement to acquire Talga East Lithium Project from Mining Equities Pty Ltd for AUD 0.13 million. Askari Metals Limited (ASX:AS2) entered into a binding acquisition agreement to acquire Talga East Lithium Project from Mining Equities Pty Ltd for AUD 0.13 million on October 4, 2022. As consideration, Askari will provide AUD 0.075 million in shares and AUD 0.05 million in cash. Announcement • Sep 29
Askari Metals Announces Multiple Extensive Lithium Targets Identified At Myrnas Hill Askari Metals Limited announced that the Company has completed a Hyperspectral Remote Sensing Survey at the recently acquired 100% owned Myrnas Hill Lithium Project, located in the highly prospective eastern Pilbara region of Western Australia. The Myrnas Hill Lithium Project is considered highly prospective for hard-rock Lithium-Tin- Tantalum (Li + Sn + Ta) mineralisation similar to the lithium-bearing pegmatites found within mafic sequences in contact with granitic intrusive such as at Pilgangoora, Wodgina and Mt Francisco in the eastern Pilbara. The project covers an area of approximately 35km2 and is considered highly prospective, given the geological setting within the project area, which is analogous to other known hard-rock Li-Sn-Ta deposits in the eastern Pilbara. The Myrnas Hill Lithium Project is hosted by several favourable greenstone units and flanked to the east and west by potential granitic source magmas. The northeastern portion of the project is characterised by the same geological units as found at the Archer Lithium Project. The Myrnas Hill Project is flanked by the Pilbara Supergroup, which hosts the Pilgangoora and Marble Bar Lithium projects and the De Grey Supergroup, which surrounds the Wodgina Lithium project. Announcement • Sep 23
Askari Metals Limited Announces Significant REE Targets Identified at Red Peak, Gascoyne WA Askari Metals Limited announced that the Company has identified Rare Earth Element potential at the 100% owned Red Peak Pegmatite Project and has recently completed an ASTER Hyperspectral Remote Sensing Survey over the Red Peak project, located approximately 15 km east of the Mt Clere REE project (Krakatoa Resources Ltd) in the Gascoyne region of Western Australia. During September 2022, the Company reviewed all available sample data in the WAMEX (WA Mineral Exploration) database for potential Rare Earth Element CREE) anomalism and has identified that the Red Peak Pegmatite Project shows real potential for REE mineralisation based on very anomalous Lanthanum and Cerium (Ce) data collected in the region. The Company then had the available ASTER Hyperspectral data analysed by an external consultant, which identified potential targets over the Red Peak project based on the interpolation of the visual spectra for talc and helium representation. The Red Peak project is considered poorly explored and highly prospective for lithium mineralisation as well as Rare Earth Elements, base metals and uranium. Notably, several pegmatites are already identified on 1:100,000 scale geological maps. However, only limited historical exploration has occurred and focused on either gold or base metals (Pb /Zn). Extensive pegmatite outcrop exists across the project area with at least eleven pegmatites mapped across the project, exhibiting strike lengths in excess of 3km and widths of between 150m and 200m. These are significant pegmatites that warrant further investigation, given the fertility of the geological setting. There are 17 Rare Earth Elements documented and the group is split into light and heavy Rare Earth Elements. Rare Earths are essential to obtain high-performance with the lowest amount of energy. The WAMEX database was analysed and the REE sample results in the area were extracted for review. Rare Earth Elements are used in high and low temperature magnets for EV's, wind turbines, aerospace, robotics and medical equipment where increased efficiency is required in order to reduce energy consumption. In the past, the majority of the samples assayed for REE's only included sampling for the light REE's. Most notably Lanthanum (La) and Cerium (Ce). The background values for these REE's are varied, but in general, background values of 34.5 ppm La and 66.5 ppm Ce are considered standard. When comparing the WAMEX data, several samples greater than the background values were identified and are displayed in Figure 3. It should also be notable from the depiction of the data in Figure 3 that several of the anomalous samples have values more than twice the background values. The Company is very encouraged by these results and future on-the-ground exploration activities are being planned to investigate these anomalous results further. The Hyperspectral program used Sentinel-2 satellite longwave infrared (LWIR), visible/near-infrared (VNlR)i and shortwave infrared (SWIR) imagery for interpretation across the Red Peak Project. The results were most encouraging, and multiple exploration targets were identified using known REE occurrences to characterise the spectral signature of potential REE indicators within the area, The spectral response in the VNIR/SWIR region of the electromagnetic spectrum is purely surficial and can only map soils and outcrops. However, some penetration of the regolith is possible using thermal imagery (Aster LWIR). Helium is a critical REE indicator because it is derived from the decay of uranium, which is often associated with REE occurrences and deposits. Helium is a gas and can, therefore, sometimes travel through the rock strata and, if detected, could reveal hidden uranium-enriched areas at depths that may be used to identify potential REE targets. The Aster-Hyperspectral analysis can detect Helium and be used to identify potential REE targets on the Red Peak Project. Talc is used to represent clays that may potentially hold REE mineralisation since the area is known for its clay based REE mineralisation, such as that identified at the Mt Clere REE project owned by Krakatoa Resources (ASX. KTA). The external consultant producing the Hyperspectral analysis derived 16 spectral end members from the dataset and compared the response to over 481 minerals in the USGS library. The fourth end member is talc. This data was trained on 30 samples located around the Tower REE prospects to the southwest of the Red Peak project, and talc was the most dominant end member in the results. The same interpolation was then run over the Red Peak project to reveal areas of anomalous talc signatures in the Aster- Hyperspectral data. Several targets were identified in this manner. Refer to Figure 3, below. Historical exploration by BHP Minerals and Astro Mining in the 1990s confirmed the presence of enriched monazite sands almost 30 years ago. The main targets for REE exploration in the area are clay-based and the monazite soils in the regolith. The Company plans to do a wide-scale soil auger program across the targets generated by this data review to test for REE mineralisation in the upper soil, sand and clay horizons. The soil auger results are expected to identify areas where more closely spaced auger surveys can be conducted to determine distinct targets before shallow Aircore drilling is conducted to test these further. Announcement • Sep 17
Askari Metals Limited Receives the Results for the First Nine (9) Holes Out of A Total of Forty (40) Holes Drilled as Part of the Phase III RC Drilling Program Completed on its 100% Owned Burracoppin Gold Project Askari Metals Limited announced that the Company has received the results for the first nine (9) holes out of a total of forty (40) holes drilled as part of the Phase III RC drilling program completed on its 100% owned Burracoppin Gold Project, located in the Wheatbelt region of Western Australia along strike of the Ramelius Resources “Edna May Gold Mine”. In June 2022, the Company completed a third phase of drilling on the Burracoppin Gold project, comprised of forty (40) RC drill holes for 3,639m. The program tested several targets, including strike extensions of the mineralisation at Burgess Find, Christmas Gift, Lone Tree and Easter Gift. The program also tested previously unexplored targets identified by the soil geochemical anomalies. The phase three RC drilling program at the Burracoppin Gold Project was designed as an extensional drilling program targeting interpreted strike extensions of the mineralisation previously identified at Burgess Find, Christmas Gift and Benbur in the North, and Easter Gift and Lone Tree in the South. The program also tested several targets identified by the Company's previously completed soil geochemical program. This program highlighted potential gold mineralisation in the far northern portion of the Burracoppin project and to the east of Benbur. These geochemical anomalies represent highly valuable targets as they had never been tested by drilling before and may result in a significant increase in the project's future potential if they return positive results. The phase three project did not test below and near existing areas of mineralisation. This is planned for future phases of drilling. Holes ABRCO33-ABRCO36 were drilled to the north of Burgess Find and aimed to test the potential strike extension of mineralisation in this area. ABRCO33 intersected 2m @ 1.09 g/t Au from 31m downhole including 1m @ 2.11 g/t Au from 32m. This intersection was made on the eastern side of the magnetic anomaly striking through the area and did not align with the current mineralised intersections in the database and therefore warrants further investigation. ABRCO34 intersected 3m @ 0.75 g/t Au from 99m downhole including Im @ 1.17 g/t Au from 99m. This intercept aligns with the current interpreted mineralisation model and represents a deep intersection. Hole ABRCO35 did not intersect any significant gold mineralisation. Hole ABRCO36 was drilled to the northwest of the Burgess Find prospect and failed to intersect any significant mineralisation in this area. Interpretation of the current results indicates that mineralisation may lie westward of its design. This will be revisited once all the results have been received. Hole ABRCO37 was designed to test for a separately interpreted set of the mineralised units parallel and to the west of the primary mineralised system on the Burracoppin Gold Project. Hole ABRCO37 was abandoned at 9m depth and redrilled a few meters away as ABRCO37A. Both holes intersected mineralisation near the surface, with hole ABRCO37 intersecting 4m @ 1.76 g/t from the surface, including 3m @ 2.11 g/t Au from the surface. Hole ABRCO37A intersected 4m @ 0.97 g/t Au from surface including 1m @ 1.31 g.t Au from surface. These intercepts highlight the potential surface gold mineralisation in the laterite cover on the Burracoppin Gold Project, which will be further investigated through future drilling campaigns. Holes ABRCO38-ABRCO39 were drilled to the south of Christmas Gift and aimed to test the potential strike extension of mineralisation in this area. ABRCO38 intersected 3m @ 2.01 g/t Au from 45m downhole including 1m @ 5.06 g/t Au from 46m. ABRCO39 intersected 10m @ 1.38 g/t Au from 34m downhole including 3m @ 3.63 g/t Au from 41m as well as including 1m @ 8.74 g/t Au from 42m. Slightly deeper downhole, an intersection of 2m @ 1.25 g/t Au from 63m, including Im @ 2.06 g/t Au from 63m, was also made. Announcement • Sep 13
Askari Metals Limited Commences its Inaugural Exploration Drilling Campaign at its 100% Owned Horry Copper and Gold Project in the Kimberley Region of Western Australia Askari Metals Limited announced that the company has commenced its inaugural 2,500m RC exploration drilling campaign at the company's 100% owned Horry Copper and Gold Project located in the Kimberley region of Western Australia. The main target of the inaugural RC exploration drilling campaign is the copper and gold mineralisation that has been identified at the Horry Horse prospect, where the majority of the 2,500m program will be focused. The mineralisation at the Horry Horse prospect is visible as an intermittent malachite outcrop over move than 400m and has been validated with several rock samples containing results including 8.5% Cu with 0.71 g/t Au and 42g/t Ag as well as 3.77% Cu with 0.63g/t Au and 12g/t Ag. Two other targets will also be tested during this RC exploration drilling campaign, including the potential strike extension of the Horry Horse mineralisation as well as the gold mineralisation near the Mt Dockrell workings. Announcement • Sep 10
Askari Metals Limited Announces South Central Barrow Creek Field Program Complete Askari Metals Limited announced that the company has recently completed a detailed field exploration campaign in the south central portion of its 100% owned Barrow Creek Lithium Project located in the Arunta Pegmatite Province of Central Northern Territory. The most recent phase of on-ground exploration targeted an area in the south central part of the Barrow Creek Lithium Project and aimed to test pegmatites that had never been explored for lithium mineralisation but has lithologies analogous to those LCT-Type pegmatites already mapped and sampled by the company in the north east and south-west area of the Barrow Creek Project. Announcement • Sep 05
Askari Metals Limited Accepts the Resignation of Non-Executive Director Brendan Cummins and David Greenwood Askari Metals Limited announced that in line with the strategic review and by way of mutual agreement to the benefit of Askari Shareholders, the Company has accepted the resignation of Non-Executive Director Mr. Brendan Cummins and Mr. David Greenwood, effective 1 September 2022. The Company has also streamlined its corporate and administration components to ensure maximum funds are deployed into exploration. Announcement • Aug 25
Askari Metals Limited (ASX:AS2) agreed to acquire Myrnas Hill Lithium Project from Raiden Resources Limited (ASX:RDN) for AUD0.2 million. Askari Metals Limited (ASX:AS2) agreed to acquire Myrnas Hill Lithium Project from Raiden Resources Limited (ASX:RDN) for AUD0.2 million on August 25, 2022. Announcement • Aug 13
Askari Metals Limited Announces the Results of Its Phase I Project-Wide Lithium Mapping and Sampling Exploration Campaign Completed At the 100% Owned Yarrie Lithium Project Located in the East-Pilbara Region of Western Australia Askari Metals Limited announced the results of its Phase I project-wide lithium mapping and sampling exploration campaign completed at the Company's 100% owned Yarrie Lithium Project located in the east-Pilbara region of Western Australia. The Yarrie Lithium Project is considered highly prospective for hard-rock Lithium-Tin-Tantalum (Li + Sn + Ta) mineralisation in pegmatites. The Yarrie Lithium Project is a district-scale lithium exploration opportunity located in the eastern Pilbara lithium hotspot adjacent to and along strike of significant hard-rock lithium deposits. Due to its favourable location and underlying geology, the Yarrie project is considered highly prospective for hard-rock lithium mineralisation in pegmatites. A review of the geology at the Yarrie Lithium Project has revealed several structures and geological formations which may have acted as potential conduits for lithium-bearing mineralising fluids. Initial geological reconnaissance identified cross-cutting pegmatite dykes in the southern part of the project, which is of significant interest to the Company and was visited during the recent exploration campaign. These include a major NE-SW trending fault that roughly bisects the project area, and two major dolerite dykes, belonging to the Black Range Dolerite Suite (2,772Ma) that seem to post-date the fault. A target map was generated following the geological review by the Company, forming the basis for the Phase I project-wide mapping and sampling campaign focussing on several subparallel dolerite (mafic) dykes, and other mapped ultramafic units which were identified as targets. The contact boundaries of granitic units were also included as targets, and areas identified from aerial photography believed to contain pegmatite dykes. Various methods, including stream sediment sampling, rock chip sampling and mapping, were used during the field campaign. Stream sediments tested large-scale areas, while rock chip sampling provided localised data surrounding the sample. Field mapping and geological observations identified mineral assemblages of the various outcrops providing valuable information required to vector toward the spodumene target. All samples have been analysed with multielement assays, scrutinising the results for various pathfinder element ratios. Announcement • Aug 05
Askari Metals Announces the Results of Detailed Gold Loaming / Stream Sediment Sampling Campaign At Company's Owned Horry Copper and Gold Project Located in the Kimberley Region of Western Australia Askari Metals Limited announced the results of detailed gold loaming /stream sediment sampling campaign at the company's owned Horry Copper and Gold project located in the Kimberley region of Western Australia. The gold loaming campaign consisted of panning creeks and tributaries in the project for gold, metal detecting and collecting rocks samples to investigate in-situ gold tenor. A soil sampling program was completed over the prospective gold areas, with the results awaited in the nest few weeks. The gold loaming campaign results have validated the metal detector's finding and revealed several high grade areas not previously tested, such as the Leo prospect, where several samples were received above 5g/t Au. Announcement • Jul 09
Askari Metals Limited Announces the Results of the Phase Iii Rock Sampling Campaign Askari Metals Limited announced the results of the Phase III rock sampling campaign completed at the South-Eastern project area within the company's 100% owned Barrow Creek Lithium Project located in the Arunta Pegmatite Province of Central Northern Territory. The third phase of field exploration activity focused on the South-Eastern portion of the tenement and sampled pegmatite outcrops for more than five kilometers along the edge of an escarpment dominating the area. Samples were collected on each outcrop and sent for assay. The pegmatites are characterized by large phenocrysts of feldspar, tourmaline, and often large books of various mica variants, with individual pegmatite dykes often reaching proportions well over ten meter wide. Announcement • Jun 29
Askari Metals Limited Completes Its Phase III RC Drilling Program on Its 100% Owned Burracoppin Gold Project Located in the Wheatbelt Region of Western Australia Askari Metals Limited announced that the Company has completed its Phase III RC drilling program on its 100% owned Burracoppin Gold Project located in the Wheatbelt region of Western Australia along strike of the Ramelius Resources “Edna May Gold Mine” (JORC (2012) Mineral Resource of 3IMt @ 1.0 g/tAu for 990,000 ounces of gold - refer to February 2022 resource update). Recent drilling by the Company has identified shallow high-grade gold mineralisation at the Burracoppin Gold Project. The Phase | drilling program on the Burracoppin Gold Project was designed to target mineralised zones and their extensions associated with historic workings and shafts from the 1930s. It aimed to verify the gold mineralisation in the area and understand the geological and mineralogical relationships beneath the historical workings. The Phase Il RC drilling program identified mineralisation west of the main workings historically mined at Benbur and an excellent intersection of 8.5m @ 4.88g/t Au from 19.5m in ABRCO27 in the main Benbur units. The first 3D mineralisation model for the Burracoppin Gold Project identifying several sub-parallel mineralised units was constructed using the historical and AS2 Phase | and II drill data. The Company has also completed a High Definition magnetic survey, which identified several potentially mineralised structures. The recently completed Phase III RC drilling campaign targeted two untested areas identified by gold anomalism in the soil geochemical data and structures identified by the magnetic survey, northwest of Burgess Find, west of Christmas Gift and East of Benbur. It also tested the strike extension potential of the main Christmas Gift and Burgess Find zones as well as the depth extension of mineralisation encountered during Phase II RC drilling at Benbur. The Burracoppin Gold Project is located approximately 20km east of Merredin and 15km west of the Edna May Gold Mine in the eastern wheat belt of Western Australia. It is underlain by Archaean granite/gneiss greenstone terrane and was historically mined in the 1930s. It produced gold grades of up to 49 g/t from workings targeting mineralisation hosted in narrow, vertically dipping veins within gabbro dykes. Laterites that cover the Archaean rock sequence also carry gold mineralisation. The laterite consists of loose pisolites with a significant sand matrix component at the nodular laterite layer. old mineralisation appears to be restricted to the iron-rich laterites. Announcement • May 19
Askari Metals Limited Announces Further High-Grade Assay Results from Phase II RC Drilling at the Burracoppin Gold Project, WA Askari Metals Limited announced further high-grade assay results from Phase II RC Drilling at the Burracoppin Gold Project, WA. 8.5m at 4.88g/t Au from 19.5m incl. 2.5m at 11.24 g/t Au from 19.5m incl. 0.5m at 48.6 g/t Au from 19.5m; 1m at 13.2 g/t Au from 34m. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Chairman Rob Downey was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Mar 04
Askari Metals Limited Completes Second Phase On-Ground Exploration Complete At Barrow Creek Lithuim Project Askari Metals Limited announced that the company has completed a detailed field exploration campaign at the 100% owned Barrow Creek Lithuim Project located in the Arunta Pegmatite Province of Central Northern Territory. During an initial reconnaissance program completed by the Company, several samples were collected from pegmatite outcropping across an area measuring 950m x 500m in the north-eastern extent of the project. The results from these samples indicate several fertile LCT-Type Pegmatites based on lithium and trace element grades and prompted the design of the follow-up Phase II exploration campaign. Board Change • Feb 24
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Chairman Rob Downey was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Feb 24
Askari Metals Limited Announces Completion of Second Phase of RC Drilling on Its 100% Owned Burracoppin Gold Project Askari Metals Limited announced that the company has completed the second phase of RC drilling on its 100% owned Burracoppin Gold project, located in the eastern wheatbelt along strike of Ramelius Resources Edna May Gold mine in Western Australia. Highlights: The second phase of RC drilling on the Burracoppin Gold Project has now been completed. A total of 13 holes for approximately 1,300 m of RC drilling was completed as part of the Phase II Program: potential strike length of mineralization extended to more than 2.4 Km; The main target was an untested zone of mineralization to the west of the historic workings as identified by holes ABRC010 and ABRC013 drilled during the phase I program completed in third quarter of 2021; Assay results from the Phase I drilling program included; 4m @4.27 g/t from 25m in ABRC010, including: 2m @ 7.88 g/t Au from 25m; 1m @ 14.60 g/t Au from 26m; 2m @ 2.38 g/t Au from 22m in ABRC013; 3m @3.57 g/t Au from 40m in ABRC005, including 1m @ 7.40 g/t Au from 40m. Phase II program was designed to follow up on the exploration success of the phase I RC drilling program and targeted down-dip/plunge extensions of the mineralization intersected in both the historic drilling and the phase I RC program. High definition drone magnetic survey completed identifying several priority A structures throughout the tenement package resulting in high quality drilling targets which will be drill tested during the phase III program; Phase III RC drilling program to commence in 5-6 weeks. Announcement • Feb 16
Askari Metals Limited Appoints Chris Evans as Technical Director - Lithium Askari Metals Limited announced appointment of Mr. Chris Evans as technical director - Lithium of the board of he company. Mr. Evans has been appointed as a Technical Director - Lithium to complement the skills and expertise on the Board and provide guidance on the future development of the Company's lithium projects as well as promote the Company's lithium projects to key strategic investors and development partners. Announcement • Feb 09
Askari Commences Phase II Drilling Program at Burracoppin Askari Metals Limited announced Phase II Drilling Program Commences on the Burracoppin Gold Project, WA. The company's phase I drilling program intersected multiple mineralised structures at Christmas Gift, Bebur and Easter Gift, and identified geological characteristics such as the potential for steeply plunging high grade shoots, in addition to identifying potentially untested mineralised zones at Lone Tree. The company has also completed a High Definition magnetic survey, which identified several potentially mineralised structures. The second phase of RC frilling commenced at Burracoppin with the first hole collared on Feb. 8th 2022. The second phase of drilling was desinged using historical drill data, the company's phase I drill results and the new magnetic data. Several targets were identified by the work leading up to the design, and several individual phases were designed. The third phase of RC drilling is planned to commence in the second quarter of 2022 and will be testing additional targets along strike and on parallel structures as well as infill holes where required. Announcement • Jan 12
Askari Metals Limited Announces Excellent Copper Gold Results from Phase II Horry Program Askari Metals Limited announced the results of the second phase of reconnaissance and rock sampling at the company's 100% owned Horry Copper Gold Project located in the Kimberely region of western Australia. The work was conducted to further understand the controls on the mineralisation and the macro geological framework driving mineralisation in the area. The rock chip samples returned excellent results for copper gold mineralisation at the Horry Horse Prospect in the south eastern third of the tenement. The results confirm more than 400m strike length of structurally controlled, shear hosted copper gold mineralisation identified by out cropping malachite mineralisation in the field. Announcement • Jul 22
Askari Metals Limited Announces Reconnaissance Field Program Completed Ahead of RC Drilling Program at the Burracoppin Gold Project Askari Metals Limited provided shareholders with an update on its exploration activities at the 100%- owned burracoppin gold project located in the eastern wheatbelt of Western Australia in close proximity to the Edna May Gold Mine owned by Ramelius Resources Limited. The company has recently completed a field reconnaissance program ahead of its inaugural 2,000m RC drilling campaign at the Burracoppin Gold Project, designed to follow-up on a number of historical high-grade drill results and test the mineralization below a line of artisanal gold workings which have only been partially tested by previous exploration. The recently completed reconnaissance field program was designed to field truth the proposed drill hole collar locations and investigate the historical mining shafts that are prevalent across the project. During the reconnaissance field program a number of the historical shallow artisanal mining shafts were investigated ahead of the planned 2,000 RC drilling program. The proposed collar locations of the drill holes have been set and the reconnaissance program was designed to field truth the geological model on which the drill hole design has been premised. The company looks forward to commencing its RC drilling program in the next week and will provide further updates to shareholders in due course. Recent Insider Transactions • Jul 21
Insider recently bought AU$113k worth of stock On the 16th of July, Niv Dagan bought around 553k shares on-market at roughly AU$0.20 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$120k more in shares than they have sold in the last 12 months. Announcement • Jul 06
Askari Metals Limited has completed an IPO in the amount of AUD 5.7292 million. Askari Metals Limited has completed an IPO in the amount of AUD 5.7292 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 28,646,000
Price\Range: AUD 0.2
Discount Per Security: AUD 0.012 
