Tillkännagivande • Dec 09
Accelerate Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 0.9 million. Accelerate Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 0.9 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 180,000,000
Price\Range: AUD 0.005
Discount Per Security: AUD 0.0003
Transaction Features: Subsequent Direct Listing Tillkännagivande • Oct 08
Accelerate Resources Limited, Annual General Meeting, Nov 19, 2025 Accelerate Resources Limited, Annual General Meeting, Nov 19, 2025. Tillkännagivande • Jun 30
Accelerate Resources Limited Announces Change of Company Secretary, Effective 1 July 2025 Accelerate Resources Limited announced that Ms. Yaxi Zhan has resigned as Company Secretary, effective July 1, 2025. Mr. Grant Mooney, Non-Executive Director of the Company, will assume the role of Company Secretary. For the purpose of ASX Listing Rule 12.6, the Company confirmed that Mr. Grant Mooney is the primary person responsible for communications between the Company and ASX, effective immediately. Tillkännagivande • May 05
An undisclosed buyer acquired 19% stake in Vytas Resources Pty Ltd from Accelerate Resources Limited (ASX:AX8) for approximately AUD 2 million. An undisclosed buyer acquired 19% stake in Vytas Resources Pty Ltd from Accelerate Resources Limited (ASX:AX8) for approximately AUD 2 million on May 5, 2025. The proceeds from this transaction will be directed towards advancing Accelerate Resources Limited's gold exploration activities
An undisclosed buyer completed the acquisition of 19% stake in Vytas Resources Pty Ltd from Accelerate Resources Limited (ASX:AX8) for approximately AUD 2 million on May 5, 2025. Tillkännagivande • Apr 09
Accelerate Resources Limited Announces Positive Developments At Its 100% Owned Comet Gold Project in the Prolific Murchison Goldfield of Western Australia Accelerate Resources Limited advised of positive developments at its 100% owned Comet Gold Project in the prolific Murchison Goldfield (>20Moz Au endowment) of Western Australia. Project Boost; The company has received notification from the Department of Energy, Mines Industry Regulation and Safety that exploration licence E20/1000 has been granted for an initial term of 5 years. This licence is located just 700m from the Westgold Resources 1.2Mtpa Tuckabianna gold mill and, this hosts several shear zones and banded iron formation ("BIF") targets adjacent to the highly endowed Cundimarra East Shear Zone, host to over 1.2 million ounces of previous gold Production. Following recent high-grade gold discoveries of Caprice Resources and former ASX-listed Musgrave Minerals nearby, Accelerate completed detailed reassessment of the tenement including field reconnaissance. This work has identified three new gold targets within interpreted trends of the nearby discoveries. New Gold Targets; Following a detailed review initiated on 24 February 2024 Accelerate has identified three new high-priority exploration targets at Comet. The review included assessment of historic drill holes and reinterpretation of geophysical data, which led to the identification of an untested and highly prospective BIF zone yet to be effectively drill tested. This discovery highlights the Project's potential for hosting new gold discoveries similar to that of nearby exploration success and operations. Target C1 at Comet East is defined by an intensely folded BIF unit located 400m east of Accelerate's 2020 RC drill program that included 9m at 3.89 g/t Au from 34m (20CORC002), 6m at 1.11 g/t Au from 30m (20CORC003), 6m at 2.29 g/t Au from 44m (20CORC019) and 6m at 1.45 g/t Au from 50m (20COR024)1. Last drilled in the mid 1990's2 with shallow RAB holes averaging 34m depth, the Company identifies exciting potential at depth and within interpreted fold-hinge and deformation zones which can concentrate gold bearing fluids in quartz-carbonate veins and sulphide replacement zones. Target C1 is drill ready subject to heritage clearances. Target C2 & C3 occur where shallow RAB drilling from 1990-2000 defines a North-east trending gold bearing structure parallel to the highly endowed Tuckabianna Shear Zone. Traversing the C2 and C3 Targets is an area of shears as opposed to BIF mineralisation, with ~500m of strike in C2 and 700m of strike in C3. Electrical geophysical surveys will be required to focus drill targets along the structure. Tillkännagivande • Jan 31
Accelerate Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 1.35 million. Accelerate Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 1.35 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 125,000,000
Price\Range: AUD 0.01
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 10,000,000
Price\Range: AUD 0.01
Discount Per Security: AUD 0.0006
Transaction Features: Subsequent Direct Listing Tillkännagivande • Jan 23
Accelerate Resources Limited (ASX:AX8) agreed to acquire 70% stake in Kanowna East Gold Project from Metal Hawk Limited (ASX:MHK). Accelerate Resources Limited (ASX:AX8) agreed to acquire 70% stake in Kanowna East Gold Project from Metal Hawk Limited (ASX:MHK) on January 23, 2025. The consideration consists of 20 million common equity of Accelerate Resources Limited to be issued for assets of Kanowna East Gold Project. As part of consideration, AUD 0.03 million is paid towards assets of Kanowna East Gold Project. Tillkännagivande • Oct 02
Accelerate Resources Limited, Annual General Meeting, Nov 25, 2024 Accelerate Resources Limited, Annual General Meeting, Nov 25, 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 (23% average weekly change). Earnings have declined by 8.2% per year over the past 5 years. Shareholders have been substantially diluted in the past year (74% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$5.96m market cap, or US$4.13m). Minor Risk Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). New Risk • Jul 10
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$14.0m (US$9.45m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. 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$4.1m free cash flow). Earnings have declined by 8.2% per year over the past 5 years. Shareholders have been substantially diluted in the past year (68% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$14.0m market cap, or US$9.45m). Minor Risk Share price has been volatile over the past 3 months (14% average weekly change). New Risk • Jun 21
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 12% 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 Less than 1 year of cash runway based on free cash flow trend (-AU$4.1m free cash flow). Earnings have declined by 8.2% per year over the past 5 years. Shareholders have been substantially diluted in the past year (68% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (AU$23.0m market cap, or US$15.3m). Board Change • May 04
High number of new directors Non-Executive Director Mark Thompson was the last director to join the board, commencing their role in the last week. Tillkännagivande • Apr 30
Accelerate Resources Limited Announces Board Changes, Effective on May 1, 2024 Accelerate Resources Limited announced that Mr. Mark Thompson will join the Board as a Non-executive Director, effective 1st May 2024. Mr. Thompson has over 30 years' experience in the Mineral Industry and is the founder and Managing Director of Talga Group Ltd. where he is highly regarded for establishing world-class innovative battery material processing and development. He has successfully overseen the transformation of TLG from a WA local gold explorer with a market capitalization of $8 million to a $300 million battery and advanced materials company. Mr. Thompson is a member of the Australian Institute of Geoscientists, the Society of Economic Geologists and the Society of Vertebrate Paleontology. As part of the transition of the board, Dr. Steve Bodon will resign effective from 1st of May 2024. Steve has been a valued member of the Board during his tenure with the Company, and the Board wishes him the best for his future endeavors. New Risk • Jan 22
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$14.9m (US$9.82m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. 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 12% per year over the past 5 years. Shareholders have been substantially diluted in the past year (52% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$14.9m market cap, or US$9.82m). Tillkännagivande • Dec 06
Accelerate Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 3.61 million. Accelerate Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 3.61 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 85,400,439
Price\Range: AUD 0.02
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 95,099,561
Price\Range: AUD 0.02
Transaction Features: Subsequent Direct Listing Tillkännagivande • Nov 22
Accelerate Resources Limited Announces Chief Executive Officer Changes Accelerate Resources Limited announced the appointment of Luke Meter as Chief Executive Officer, effective from the 1 January 2024. Mr. Meter is a highly credentialed geologist and mining executive with more than 18 years of handson, exploration, development and corporate experience. Mr. Meter has been a key contributor in multiple district scale discoveries and developments including De Grey Mining’s 9.5 Moz Hemi Deposit1 and Dacian Gold’s 1.2 Moz Jupiter deposit. In particular, Mr. Meter has significant experience in the world class Pilbara mining district across a range of commodities including lithium, gold, nickel and copper. Through his leadership roles at De Grey, Novo and most recently Artemis he has accumulated vast local exploration and operational experience and in-depth knowledge of Pilbara geological settings. This includes development of strong stakeholder relationships with local communities and government agencies along with investor relations. Mr. Meter holds a Bachelor of Science degree (BSc) in Geology from the University of Adelaide and is a member of the Australasian Institute of Mining and Metallurgy (AusIMM) and Australian Institute of Geoscientists (AIG). With the appointment of Mr. Luke Meter, Ms Yaxi Zhan will transition from Managing Director to Executive Director, supporting the incoming CEO and continuing to play an important role in unlocking value and developing partnerships across the portfolio, in particular the Company’s manganese assets. Tillkännagivande • Nov 11
Accelerate Resources Limited announced a financing transaction Accelerate Resources Limited announced a private placement of 5,105,402 common shares on November 10, 2023. The shares issued will be restricted for 12 months. Tillkännagivande • Nov 01
Accelerate Resources Limited Completes A High-Resolution Aerial Imagery and Digital Elevation Survey Across the Prinsep Lithium Project Accelerate Resources Limited announced that the Company has completed a high-resolution aerial imagery and digital elevation survey across the Prinsep Lithium Project to assist with identifying additional lithium pegmatites and generation of drill targets. High-resolution aerial imagery has been widely used in the exploration for hard rock lithium deposits to assist with geological mapping, target generation, reporting and general visualisation of the area. The drone survey system used by the Company has a wide range of capabilities to capture aerial imagery and elevation data with a high degree of accuracy. Integration of the enhanced imagery and digital terrain model (DTM) will be used to construct a 3D map view to assist with lithological and structural mapping, delineation of pegmatite outcrops and optimisation of drill targeting. Planned Program. A detailed mapping and follow up sampling campaign, based on the high resolution imagery, will now commence, to define in detail the extents of lithium-bearing pegmatites along the Prinsep north and south trends. Each target will be assessed as to the potential size and continuity of mineralisation in anticipation of a maiden shallow drilling program, which will be conducted as soon as possible following DMIRS Program of Works approval and any heritage clearance approvals. The wider Mt Sholl, Mt Sholl East and Roebourne South Projects will also be mapped for prospective geology and sampled where pegmatites are identified. Along with Prinsep, server of these projects also lie within the highly prospective and active Roebourne - Karratha lithium corridor which hosts the recently discovered Andover Lithium Deposit. These projects have never been systematically explored or drilled for lithium. Kevin Joyce joins the Accelerate Team. Mr. Kevin Joyce has joined the exploration team as Project Manager leading the exploration on the Karratha Lithium Projects. Mr. Joyce is a geologist with over 25 years of experience in the Resources Industry. His previous work experience includes the discovery of the world-class Goulamina Lithium Deposit in Mali, now with a globally significant lithium Mineral Resource of 211Mt @ 1.37% Li2O2. Steve Bodon to transition back to Non-Executive Director from Executive Director- Technical. Due to a strategic change in focus of the Company, Dr. Steve Bodon will transition from Executive Director - Technical to his previous role as Non-Executive Director - Technical from 1 January 2024. Dr. Bodon will continue to provide guidance to the technical team and provide support to the Company going forward. He will be paid a Non-Executive director's fee of $45,000 per annum from 1 January 2024. The terms of the Company's proposed acquisition of Mt Sholl Holdings Pty Ltd., have been revised through the conversion of the upfront and deferred cash amounts payable to the shareholders of Mt Sholl Holdings (Vendors) into the issue of fully paid ordinary shares in the capital of Accelerate (Shares) and Class A Performance Shares to comply with ASX Listing Rule 10.1. Director Grant Mooney has a relevant interest in 47% of the issued capital of Mt Sholl Holdings, however has confirmed that he is not in a position to control Mt Sholl Holdings. The consideration payable by Accelerate for the Acquisition will now comprise: 35,869,565 Shares; 50,217,391 Class A Performance Shares will vest upon the approval of a program of works for a drilling program and the receipt of a heritage clearances on the tenements within 2 years of the date of issue (Milestone); 35 million Class B Performance Shares which will vest upon Accelerate announcing to ASX a drilling intercept (down hole) of at least 20m of at least 20m of no less than 1.0% Li2O on any of the tenements within 3 years of the date of issue; and the date of issue; a 2% NSR. The Initial Consideration Shares and Performance Shares issued to Grant Mooney and his associates will be subject to a 12 month ASX escrow period. Additionally, approximately 80% of the Initial Consideration Shares and the Class A Performance Shares issued to unrelated Vendors will be subject to a 12 month voluntary escrow period. The terms of the Acquisition are otherwise consistent with the initial announcement released on 6 October 2023. The Company intends to convene a General Meeting for shareholders to approve the Acquisition in late January 2024. The Company intends to convene a General Meeting for shareholders to approve the Mt Sholl Transaction in January 2024. New Risk • Oct 15
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 72% 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 Less than 1 year of cash runway based on free cash flow trend (-AU$3.5m free cash flow). Earnings have declined by 12% per year over the past 5 years. Shareholders have been substantially diluted in the past year (72% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$14.0m market cap, or US$8.80m). Tillkännagivande • Oct 08
Accelerate Resources Limited (ASX:AX8) has conditionally agreed to acquire Mt Sholl Holdings Pty Ltd from Grant Mooney, Mark Thompson and Philippa Jean Laufmann for AUD 0.83 million. Accelerate Resources Limited (ASX:AX8) has conditionally agreed to acquire Mt Sholl Holdings Pty Ltd from Grant Mooney, Mark Thompson and Philippa Jean Laufmann for AUD 0.83 million on October 6, 2023. Under the terms of agreement, Accelerate Resources will pay initial cash consideration of AUD 250,000, and 25,000,000 of Accelerate Resources shares and deferred Cash Consideration of AUD 350,000 payable upon the approval of a program of Works approval and receipt of a heritage clearances for an initial drilling program on the tenements; 35 million of Class A Performance Shares which will vest upon the approval of a Program of Works approval and receipt of a heritage clearances for and initial drilling program at on the tenements within 2 years of the date of issue; 35 million of Class B Performance Shares which will vest upon Accelerate Resources announcing to ASX a drilling intercept of at least 20m of no less than 1.0% Li2O on any of the tenements within 3 years of the date of issue; 35 million Class C Performance Shares which will vest upon Accelerate Resources announcing to ASX a JORC compliant maiden lithium Resource on the tenements within 5 years of the date of issue and 40 million Class D Performance Shares which will vest upon Accelerate Resources announcing to ASX a minimum 10 million tonne JORC compliant lithium resource within 5 years of the date of issue. The Initial Consideration Shares and Class A Performance shares are subject to a 12 month voluntary escrow period. The transaction is expected to close on November 30, 2023 and is subject to completion of due diligence by Accelerate Resources, receiving valid applications for AUD 3 million under a capital raising transfer of Mt Sholl title to Accelerate Resources, Accelerate Resources receiving shareholder approval and obtaining all necessary regulatory approvals. Tillkännagivande • Oct 07
Accelerate Resources Limited (ASX:AX8) entered into binding Agreement to acquire 75% stake in Roebourne South and Mt Sholl East Lithium Projects from Welcome Exploration Pty Ltd and Donald Kimberley North for AUD 0.24 million. Accelerate Resources Limited (ASX:AX8) entered into binding Agreement to acquire 75% stake in Roebourne South and Mt Sholl East Lithium Projects from Welcome Exploration Pty Ltd and Donald Kimberley North for AUD 0.24 million on October 5, 2023. Tillkännagivande • Oct 05
Accelerate Resources Limited, Annual General Meeting, Nov 28, 2023 Accelerate Resources Limited, Annual General Meeting, Nov 28, 2023. Tillkännagivande • Jul 06
Accelerate Resources Limited Appoints Steve Bodon as Technical Director Accelerate Resources Limited announced its Non-Executive Director Dr. Steve Bodon will take up a new role as the Company's Executive Director - Technical. Dr. Bodon joins the company from Karora Resources, a gold and nickel producer with operations in Western Australia, where he was General Manager of its Higginsville gold operations, and Lakewood gold processing operation in Kalgoorlie. He has previously held senior leadership roles for several large international organizations including Sasol as Assets Manager West Africa, and Anglo American leading specific development and production projects in southern Africa. Dr. Bodon brings strong technical and business leadership skills to the Company, with extensive asset lifecycle experience across exploration, project development and production. Dr. Bodon has a PhD in Economic Geology from the Centre for Ore Deposit Research (CODES), University of Tasmania and has undertaken further training in engineering, business administration and sustainability leadership. Dr. Bodon's transition from Non-Executive Director to Executive Director will strengthen the technical capability of the AX8 Board and is in line with the Company's strategy of developing its Woodie Woodie North Manganese Project towards a JORC-compliant resource in the shortterm, and to become the next Australian manganese producer. Tillkännagivande • Feb 18
Accelerate Resources Limited Identifies Multiple Corridors of Manganese Mineralization Accelerate Resources Limited announced a project-wide evaluation has identified multiple corridors of manganese mineralisation within the central part of the Project that demonstrate the potential for structurally controlled large tonnage mineralisation at its Woodie Woodie North Manganese Project in Western Australia. Based on an evaluation of the distribution of manganese outcrops, structural domains interpreted from high resolution imagery, regional and historic geophysical data (magnetic, gravity and dipole- dipole induced polarisation (DDIP) datasets), and a recent project-wide heli-bourne mapping program, Accelerate has identified corridors of manganese mineralisation linked to major reverse faults and the linking structures formed between them. This form of mineralisation is characteristic of the Woodie Woodie Mine Corridor. Five significant manganese corridors are shown in the shaded grey areas in Figure 2. Gum Creek and Parsons Creek corridors are the largest and are under explored. These corridors represent persistently mineralised trends that are analogous to the mineralisation at the Area 42 discovery and are extensions of the world class Woodie Woodie Mine Corridor to the south. What is most exciting is the scale and the underexplored nature of these mapped mineralised zones within the highly prospective geological setting. Planning for maiden drilling of these high priority targets is underway. Consolidated Minerals' Woodie Woodie mine is a world-class high-grade manganese producer, well-known for its premium high-grade low-impurity Manganese product for the last 50 years. In 2007, it was sold to Ukrainian owned Palmary Group company for $A1.3 billion. Current owner since 2017 is the Chinese owned TMI Group. The Woodie Woodie Mine Corridor, as per Figure 4 below, is a cluster of high-grade fault-hosted manganese deposits, over an area of approximately 3.5 km wide and extending for some 15 km along strike from Radio Hill in the north to Lox mine in the south. The manganese deposits are predominantly hydrothermal in origin with a late supergene overprint. The orebodies range in size from 0.2 Mt to 5.5 Mt with an average of 0.5 Mt. Historically, more than 56 deposits and over 35 Mt of high-grade manganese have been mined within the Woodie Woodie Mine Corridor (Jones et al, Ore Geology Reviews 50, 2013). Large- sized deposits, such as Bells, Chris D and Greensnake with resources in the order of 5 Mt are intimately related to NNW fault lines and the intense hydrothermal alteration of the host dolomite. Below is a table comparing the Company's Woodie Woodie North Manganese project which is 70km north of the Woodie Woodie mine along the same system of NNW trending structures. The 2023 drilling campaign will target both high-grade structurally controlled mineralization and the supergene enriched surface caps for Direct Shipping Ore (DSO) style mineralization. Tillkännagivande • Feb 09
Accelerate Resources Limited Reports Encouraging New Results from Its Phase 2 Drilling Campaign At the Woodie Woodie North Manganese Project in Western Australia's Pilbara Accelerate Resources Limited reported encouraging new results from its Phase 2 drilling campaign at the Woodie Woodie North Manganese project in Western Australia's Pilbara. Assay results confirm the presence of large and well developed hydrothermal zones at Area 42, with the potential for substantial manganese resources to be delineated. In Phase 2, AX8 completed 46 holes (2,400 m) to follow up near surface manganese outcrop and historical drill intersections and to define extensions of known manganese mineralisation along strike and at depth. Thirty holes returned good intercepts greater than 3 m above 8.5% Mn. Two large surface slabs of outcropping manganese were shown to be connected and exhibit internal continuity. A substantial mineralised cap measuring 2 m to 7 m in thickness over an area of 120m by 25 m to 35 m in width was discovered to be mineralised. In addition, a triangular zone of deeper mineralisation centred on WNRC059 (which totalled 20 m at 23% Mn) remains open to the NE and represents an excellent target. Significant intervals included: WNRC047 7 m @ 26.4% Mn & 5.7% Fe from surface incl. 4 m @ 28.9% Mn & 6% Fe from surface; WNRC054 5 m @ 33.7 Mn & 13.4% Fe from surface; WNRC059 12 m @ 18.3% Mn & 9.5% Fe from surface and 8 m @ 30.8% Mn, 2.7% Fe from 13 m. The surface outcrops at Nathan's Flat extend over 65 m x 20 m to 25 m along a NNW axis and 75 m x 20 m to 35 m on a NE axis joined as a rough T-shape. This shows the manganese cap remains untested along its NE edge and may extend under thin alluvial cover to the SW past WNRC065 where 11 m @ 21.5% Mn was intersected. Ten of the 15 holes drilled at Nathan's Flat recorded manganese over a minimum interval of 3 m. The first drill hole, WNRC060, recorded Mn mineralisation from 3 m to 71 m in six intervals ranging in thickness from 3 m to 13 m (totalling 44 m). Maximum values of 35.5% and 33.5% Mn were recorded at 3 m and 19 m depths respectively. The individual intervals are listed below. WNRC060 overall 44 m @16.3 % Mn & 13.2% Fe (weighted averages): 4 m @ 23.4% Mn & 6.5% Fe from 3 m, incl. 1 m @ 35.5% Mn & 1.3 % Fe from 3m; 13 m @ 17.3% Mn & 14.1% Fe from 14 m; 10 m @ 12.1% Mn & 4.7% Fe from 32 m; 9 m @ 14.2% & 8.7% Fe from 43 m; 3 m @ 21,5% Mn & 7.6% Fe from 57 m; 5 m @ 17.3% Mn & 36.1% Fe from 66 m. Adjacent holes, WNRC063 and 74 returned the following results: WNRC063 9 m @ 22% Mn & 8.7% Fe from 4 m, incl. 2m @ 34% Mn & 5.8% Fe from 9 m. WNRC074 - 6 m @ 28.4% Mn & 9.9% Fe from 3 m, incl. 3 m @ 37.4% Mn & 9.1% Fe from 5 m (with maximum 42.9% Mn). WNRC065 11 m @ 21.5% Mn & 12.7% Fe from surface, incl 3m @ 38.5% Mn & 9.1% Fe from surface (with maximum 40.9% Mn). The long section below depicts the development of the near surface cap and the continuity of mineralisation from hole to hole. Deeper manganese mineralisation was intersected in several holes (five in total), indicating that low to moderate grade mineralisation exists to significant depths beneath the surface cap (down to a maximum of 71 m). There is insufficient deep drilling at this stage to establish lateral continuity or orientation, but there appear to be two irregular slabs of manganese mineralisation centred on holes WNRC060 and WNRC067 respectively. Six holes were initially drilled over a series of layered manganese outcrops. The holes were drilled to confirm the historic drilling results (e.g. BX76 6 m @ 39.9% Mn from the surface) and to test for the presence of deeper mineralisation. Deeper, lower-grade intersections were located in holes WNRC034 and 37. The results indicate that the manganese outcrops downslope and to the west of WNRC037 and penetrate back into the slope as far as WNRC034, indicating the potential for a significant mineralisation. Significant intervals included: WNRC034 - 4 m @ 12.3% Mn & 2.5% Fe from 20 m; WNRC036 6 m @ 16.4% Mn & 17.3% Fe from 27 m; WNRC037 4 m @ 12.9% & 23.5% Fe from 3 m; WNRC038 7 m @ 31.4% Mn & 1 9% Fe from surface with a maximum assay of 42.2% Mn from 1 m. Dirk's Valley: Four holes were drilled at Dirk's Valley, with all intersecting modest-grade manganese with low iron. The best results were achieved in the neighbouring holes, WNRC077 (12 m at 12.7% Mn & 3.8% Fe from 15 m) and WNRC076 (8 m at 18.3% Mn & 2.2% Fe from 14 m). Because WNRC077 was directed to the SW and WNRC077 to the W, this represents a triangular shaped slab of low-grade mineralisation worthy of additional drilling. It is noteworthy that sub 5% iron content enhances the target's potential. Significant intervals included: WNRC077 12 m @ 12.7% Mn & 3.8% Fe from 15 m; WNRC076 8 m @ 18.3% Mn & 2.2% Fe from 14 m; WNRC076 5 m @ 15.4% Mn & 1.6% Fe from 31 m; WNRC075 3 m @ 14% Mn & 3.1% Fe from 36 m. Accelerate's Critical Minerals Strategy: The Company has engaged Perth based engineering firm Simulus Laboratories to conduct a preliminary test work program to produce HPMSM. High Purity Manganese, also known as battery grade manganese, is purchased in either metal or sulphate form by cathode and battery manufacturers. High Purity Manganese is used in lithium-ion battery cathodes, specialty steels, aluminium and chemicals. The work has been carried out since late 2022, with material collected from surface mineralisation within Area 42. The purpose of the test work is to develop a refining process to produce high purity manganese sulphate crystals (MnSO4) from a Braeside West concentrate. Simulus has extensive experience in manganese projects and within the wider minerals industry and is ideally placed to complete this scope of work. The Company is expected to receive results of the preliminary test work by end of February 2023. Future Work: Planning is underway for the Phase 3 drilling program. Follow up drilling of the presently defined targets at Dale's Patch and Nathan's Flat will be completed, and the extents and continuity of the mineralisation confirmed. Detailed drilling will be undertaken at Chris's Ridge and Drape's Hill to continue defining the surface cap mineralisation and to identify deeper mineralised zones. Additional scout drilling along the Dirk's Valley line towards the discovery at Drews Find (WNRC017) is planned. Work programs for new targets identified will be developed in the coming weeks. 
