Client Testimonial from Barry Cahill, Managing Director of Cyprium Metals Limited (ASX:CYM). It's all about getting the right message across to investors when Barry Cahill swings by for a Coffee with Samso. Barry Cahill: "Cyprium's projects and strategy are technically complicated, and we liked the idea of being able to spend more time explaining the details of what we wanted to achieve in the business. So the Coffee with Samso format really suited our needs. It turned out to be an excellent experience for us. It delivered what we wanted and having an interviewer with a technical background has also helped in getting the right message across to investors. We were able to answer a lot of technical questions for shareholders and investors that we would normally have to answer dozens of times. With Samso, they can go to the videos and pick up the topic they want more information on, and view the response for themselves in their own time. The best part was to amplify our reach through Brilliant-Online magazine thus gaining new investor interest that we never had before. Brilliant-Online has about 55,000 readers. The feedback also gives us direction on what topics we need to try to cover in the future. It complements the feedback we get from our own webinars which are more general updates. We really like the Coffee with Samso concept. It's excellent and we will continue to use the format for updates to progress and around specific subjects as the need arises. I have actually had enquiries about our experience with Coffee with Samso, and have recommended the format." About Barry Cahill Managing Director Mr. Cahill is a mining engineer with over 30 years’ experience in exploration, operational mining and management. In particular, his experience covers management of project development and construction from exploration drilling through project funding, commissioning and development. He was the Managing Director of Finders Resources Limited from 2013 until its takeover in 2018. Mr. Cahill has previously been Executive Director of a number of public companies including Operations Director at Perilya Limited and Managing Director of Australian Mines Limited and Norseman Gold Plc. About Cyprium Metals Limited (ASX:CYM) Cyprium Metals Limited (ASX: CYM) is an ASX listed company with copper projects in Australia. The Company has a highly credentialed management team that is experienced in successfully developing sulphide heap leach copper projects in challenging locations. The Company’s strategy is to acquire, develop and operate mineral resource projects in Australia which are optimised by innovative processing solutions to produce copper metal on-site to maximise value. The Company has projects in the Murchison and Paterson regions of Western Australia that is host to a number of base metals deposits with copper and gold mineralisation. Paterson Copper Projects This portfolio of copper projects comprises the Nifty Copper Mine, Maroochydore Copper Project and Paterson Exploration Project. The Nifty Copper Mine (“Nifty”) is located on the western edge of the Great Sandy Desert in the north-eastern Pilbara region of Western Australia, approximately 330km southeast of Port Hedland. Nifty contains a 2012 JORC Mineral Resource of 732,200 tonnes of contained copper (i). Cyprium is focussed on a heap leach SX-EW operation to retreat the current heap leach pads as well as open pit oxide and transitional material. Studies will investigate the potential restart of the copper concentrator to treat open pit sulphide material. The Maroochydore deposit is located ~85km southeast of Nifty and includes a shallow 2012 JORC Mineral Resource of 486,000 tonnes of contained copper (ii). Aeris Resources Limited (ASX: AIS, formerly Straits Resources Limited) holds certain rights to “buy back up to 50%” into any proposed mine development in respect of the Maroochydore Project, subject to a payment of 3 times the exploration expenditure contribution that would have been required to maintain its interest in the project. An exploration earn-in joint venture has been entered into with IGO Limited on ~2,400km2 of the Paterson Exploration Project. Under the agreement, IGO is to sole fund $32 million of exploration activities over 6.5 years to earn a 70% interest in the Paterson Exploration Project, including a minimum expenditure of $11 million over the first 3.5 years. Upon earning a 70% interest, the Joint Venture will form and IGO will free-carry Paterson Copper to the completion of a pre-feasibility study (PFS) on a new mineral discovery. Murchison Copper-Gold Projects Cyprium has an 80% attributable interest in a joint venture with Musgrave Minerals Limited (ASX: MGV) at the Cue Copper-Gold Project, which is located ~20km to the east of Cue in Western Australia. Cyprium will free-carry the Cue Copper Project to the completion of a definitive feasibility study (DFS). The Cue Copper-Gold Project includes the Hollandaire Copper-Gold Mineral Resources of 51,500 tonnes contained copper (iii), which is open at depth. Metallurgical test-work has been undertaken to determine the optimal copper extraction methodology, which resulted in rapid leaching times (refer to 9 March 2020 CYM announcement, “Copper Metal Plated”, https://cypriummetals.com/copper-metal-plated/). The Nanadie Well Project is located ~650km northeast of Perth and ~75km southeast of Meekatharra in the Murchison District of Western Australia, within mining lease M51/887. The Cue and Nanadie Well Copper-Gold projects are included in an ongoing scoping study, to determine the parameters required to develop a copper project in the region, which provides direction for resource expansion work. (i) Refer to CYM ASX announcement dated 17 November 2021 “Updated Nifty Copper Mineral Resource Estimate” (ii) Refer to MLX ASX announcements: 10 March 2020, “Nifty Copper Mine Resource Update” and 18 August 2016, “Annual Update of Mineral Resources and Ore Reserves” (iii) Refer to CYM ASX announcement: 29 September 2020, “Hollandaire Copper-gold Mineral Resource Estimate” Samso-Brilliant Distribution Outreach Powerful Advertising opportunities for Samso’s ASX and private business clients. The Brilliant-Online partnership is an opportunity to reach new and wider audiences in a fresh, appealing format to pique and retain investor interest. Contact Veronica directly for your special Samso-Brilliant advertising rate. Read Brilliant Investments

Coffee with Samso Episode 173 is all about Boron as Tin-Boron Rich Zones are identified at Mount Lindsay. The recent release by Venture Minerals Limited (ASX:VMS) is adding more confidence to the Mount Lindsay project. Knowing that more tin could be realised via the association of Boron now makes Mount Lindsay a solid project. Who is Venture Minerals Limited (ASX: VMS)? In my very first Coffee with Samso with Andrew Radonjic, way back in October 2020, I had coined the company a Targeted Diversified Mineral Explorer. The basis of that title was because they have very promising targets. I know many people will say that is a long bow to draw but from an exploration point of view, I stand firm on my observation. Chapters: 00:00 Start 00:20 Introduction 01:20 About Venture Minerals and Boron 04:14 Tin-rich borates in Mount Lindsay 12:02 Any potential metallurgical issues? 14:57 How much can be recovered from the cassiterite? 19:56 Uses of boron 23:18 Market shifts? 28:57 News flow 30:22 Why VMS? 31:56 Conclusion Market Status Currently, like many of the market participants, the share price has taken a battering. The journey has been one where at its peak of about AUD$0.16 in mid 2021, is now pretty much at its low (see Figure 1). The share price has moved since the latest release which appears to be giving the market some joy. Figure 1: The share price chart for Venture Minerals Limited (ASX: VMS) over the last 3 years. (Source: Commsec) What I feel is that the market is generally not a direct reflection on the perceived valuation of the company. In the exploration sector, this is more relevant as the potentials are never calculatable. The current market capitalisation is around AUD33M. Some pundits may say that this is high for an explorer, but one have to understand that Venture has a iron ore resource that is at mining stage and a Tin an Tungsten resource that is at Feasibility Study stage. Why does Samso like Venture Minerals Limited, in particular, the Mount Lindsay Mineral Province? There are many companies that are currently in the market, but not all of them is reflecting my enthusiasm. As I have said many times, as an exploration geologist, I am always looking at the potential and with over 30 years of geology experience, working and learning about the industry, I have seen and heard many stories. Over the years, I have learnt to identify projects that could have the best possible potential to bear fruits. What I see in Venture are projects that have those potentials. Look at the Thor project. I like the concept and the potential from the first Coffee with Samso. The latest on Thor project is that the Joint Venture partner has now targeted two new priority targets. The Mount Lindsay project is one that needs no introduction. Venture is currently working on a Feasibility study for Mount Lindsay. This will take time and as they develop new concepts. What is being showcased is the potential endowment of the Province. When you look at the latest summarised geological plan (Figure 2), you will see why I call this the Mount Lindsay Mineral Province. Figure 2: Mount Lindsay Project: Geology Map showing High Grade Tin-Tungsten Targets and Tin-Boron Skarns For those readers that are not well versed with geology, what I want to represent with Figure 2 is that the area/province that I am referring to is well mineralised. There is a suite of metals that are being found. For this to happen, you need a mineral system that is sufficiently powerful and endowed to be present. In my time showcasing Venture Minerals, I dont think that has been a focus for the company. I will not be surprised when that is a topic of conversation. The Boron Story - Samso is Excited. The Boron story is going to be a big asset for Venture. For those that are new to the Boron game, you will quickly find that Venture is in the big leagues. Granted that there is still a lot of questions, - is there an economic volume, is there an economic recoverable process...etc. For Samso, the input credit and the potential ability to recover more tin in the process is the game changer. When you look at the major mining projects, it is very often the input credits of other products in the mine that makes the profitability of the mine. If you look at Olympic Dam, by far the biggest single mine in the world, it is the myriad of other metals that have extended the life of the mine. Samso's Conclusion Venture Minerals have been through a wild ride over the two years. There is no denying that there are shareholders who are disappointed with the journey lately but there are also shareholders that have bought at the lows and exited with a handsome loot. The introduction of the Boron story is exciting. This could be the game changer for Venture. This will create a new dimension for the company as when you look at the market for Boron, it will be an eye opener. If the oncoming data about what Venture have in terms of the Boron is positive, we will be in for another ride. Whichever shareholder you are, there is also some realities that make VMS a well balanced investment. When you look at the portfolio of projects, they are placed in every stage of the exploration game. You have early stage greenfield exploration such as Kulin and Golden Grove North. Thor which is in a joint venture with Chalice Mining is being explored but is free carried as Chalice is earning into the project. Mt Lindsay and the Riley iron ore project is the next step up. Mount Lindsay has greenfield to "development". Riley is at mining stage. Riley is waiting for the right market timing and can be turned on when the time arrives. So my thoughts on a company like this is, "its hedged at all ends". There are not too many companies in the sector with this kind of portfolio. I have spoken to many and I will be surprised that there is more than a handful with the well spread of projects like Venture Minerals. When you have been in the sector for a long time, you appreciate these kind of odds. For this reason, I think that at market cap of 40M, Venture is definitely worth doing some lengthy research. Andrew Radonjic has been in this game for a long time and when you look at the price chart in Figure 1, the risk of investing in the company is not ambiguous. One may say you can go to the casino and have the same odds, but as all investors in this sector, we beg to differ. Research and understanding your risk management is the key. Understand the geology, understand the upside and downside and understand your own risk capability. For these reasons, I strongly recommend reaching out to Andrew and getting him to give you the low down on the company. PODCAST About Andrew Radonjic Qualifications: BAppSc (Mining Geology), MSc (Mineral Economics), MAusIMM Mr. Radonjic is a geologist and mineral economist with over 35 years of experience in mining and exploration, with an initial focus on gold and nickel in the Eastern Goldfields of Western Australia. Andrew has fulfilled a variety of senior roles which gave rise to three gold discoveries, totalling in excess of 3 million ounces in resources and resulting in 1.5 million ounces being produced. Since 2006 Andrew has been an executive director with Venture Minerals, which he co-led during the discovery of the Mount Lindsay Tin-Tungsten deposit in North-West Tasmania. He is also a founding co-director of Blackstone Minerals and the non-executive Chairman of Codrus Minerals. About Venture Minerals Limited Venture Minerals Ltd (ASX: VMS) has refocused its approach to developing the Mount Lindsay Tin-Tungsten Project in northwest Tasmania, already one of the world's largest undeveloped Tin-Tungsten deposits. With the recognition of Tin as a fundamental metal to the battery revolution and Tungsten being a critical mineral, Venture has commenced an Underground Feasibility Study on Mount Lindsay that will leverage off the previously completed open-pit feasibility work. At the neighbouring Riley Iron Ore Mine, the mine is prepared for a quick restart should the market conditions become favourable. In Western Australia, Chalice Mining (ASX: CHN) recently committed to the second stage of the JV which requires a further $2.5 million of expenditure over the next two years to earn a further 19% interest (for a total of 70%) in Venture’s South West Project. At the Company’s Golden Grove North Project, downhole EM has delineated a large conductor under High Grade Zinc-Copper-Gold drill intersections within the 5km long Volcanogenic Massive Sulfide Target Zone, along strike to the world class Golden Grove Zinc-Copper-Gold Mine. Venture has a significant Nickel-Copper-PGE landholding at Kulin with two highly prospective 20-kilometre long Ni-Cu-PGE targets within the Kulin Project. Share to Grow: Your Bonus eBook: How to add value to your Share Portfolio This is a good time to download our Free Ebook as it is all about VMS (Volcanogenic Massive Sulfides). The eBook is about lessons on geological models sought by mining companies. It gives insight and an understanding of which portfolios are better - and potentially more lucrative investments. Click here to download this eBook. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. About Samso Samso-Brilliant Distribution Outreach Powerful Advertising opportunities for Samso’s ASX and private business clients. The Brilliant-Online partnership is an opportunity to reach new and wider audiences in a fresh, appealing format to pique and retain investor interest. Contact Veronica directly for your special Samso-Brilliant advertising rate. Read Brilliant Investments

Samso Insight Episode 111 is with Mimmo, founder of Mimmo's Gourmet Gelato. This Samso Insight is all about the inner passion of business. Today we look at the Passion and Perseverance that are built into those that pursue the life of an entrepreneur. It is not so much about seeking glory but about the fulfilment of the passion that dwells deep. Tony Goode brings us a riveting story, that on the surface, perhaps bears no interest to the business community, apart from the delicious thought of Gelato, but when you sit back and listen, one will feel all the essence of what it takes to follow your passion. The story of Mimmo's Gourmet Gelato is more than the sweet taste of Gelato. It is about the realisation of one man's dream, and the understanding of what drives a person to showcase his dream and the confidence to share it. As Tony dives into the conversation, we see the light that is burning bright in Mimmo. Many have tasted the products and I have seen with my own eyes, the genuine appreciation of his art. I have personally tasted Mimmo's Gelato and I will say that the taste is good as it is, but when you know the hard work that has gone into it with his passion, it tastes even better. Mimmo talks about wanting to bring his passion to the general public and sharing what he loves with the new generation. He wants his legacy to be loved and then carried on for those that have not experienced it. When you listen and watch Mimmo's interview, there is no doubt as to his sincerity in wanting the new generation to carry on the tradition of making and appreciating Gelato in its original form. What is the difference between Gelato and Ice Cream? The word “gelato” is simply the Italian word for ice cream, derived from the Latin word “gelātus” (meaning frozen). Gelato v.s. Ice Cream Gelato contains less ‘air’ than ice cream giving it a much richer flavour, whilst making it dense, fluid and creamy. BUT, gelato is actually different from the traditional recipe of ice cream because it is lighter, having a lower butterfat content than traditional ice cream. Generally, gelato uses more milk rather than cream. Ice cream often uses egg yolks, whereas gelato does not. To put some percentages on it, gelato typically contains 4-8% fat, versus the 14-16% found in ice cream. Finally, gelato is stored and then served at a higher temperature compared to ice cream. Chapters 00:00 Start 00:20 Introduction 02:03 Mimmo shares the Journey. 05:39 The Second Run to Realise the Mimmo Dream. 06:04 Difference in the Mimmo Recipe. 07:05 How does Mimmo Gourmet Gelato business work? 08:08 Why Mimmo is in Schools. 09:30 The story of the Special Client. 10:59 The Celebrity that touched Mimmo. 14:00 The rising popularity of Mimmo Gelato. 15:27 What advice would Mimmo give to New Entrepreneurs? 16:45 Mimmo Wisdom. 19:01 Mimmo's Gourmet Gelato. 19:35 Conclusion PODCAST About Mimmo and Mimmo's Gourmet Gelato Founder Mimmo’s Gourmet Gelato is the creator’s own, made in small batches from only the finest natural ingredients and the freshest fruits available. All our niche gelato and sorbet are prepared with pride and made fresh to order daily with authentic Italian flavours and ingredients. Indulge yourself in Perth’s finest and tastiest, Perth Royal Show 2014, 2015, 2016, 2017, 2018 & 2019 award winning gelato, with flavours like Honey Comb Bliss, Bacio, Cheesecake Meringue, Red Velvet – just to name a few. Mimmo also produces gelato for cafés, restaurants and ice creameries, in 5L wholesale containers and will work with clients to suit their flavour requirements. Display trays of gelato also available. We now have introduced our very own mobile gelato cart to bring our award winning gelato to you. We will be wheeling our bright orange gelato cart at many venues around Perth including festivals, private parties and functions and for that something special at weddings. Mimmo’s Gourmet Gelato pop up cart, allows us to go anywhere, anytime to provide your next function with a selection of gelato and or sorbet to suit any occasion and to tantalise your guests' taste buds. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. Share to Grow: Your Bonus Samso has just released an eBook: How to Add Value to your Share Portfolio A lesson on geological models sought by mining companies that gives insight and an understanding of which portfolios are better - and potentially more lucrative – investments. Click here to download this eBook. If you find this article informative and useful, please help me share the information.  I try and write about topics that are interesting and have the potential to be of investment value.  It is not easy to find stories that fit those parameters. If you or your organisation see the benefit of what Samso is trying to achieve and have a need to share your journey, please contact me on noel.ong@samso.com.au. About Samso Samso ASX stories are also through the Brilliant-Online channels. Subscribe to Brilliant Investments.

Samso Rooster Talk Episode 71 is with Brett Hazelden, Managing Director and CEO of OD6 Metals Limited (ASX: OD6). The OD6 story is now one step closer to its Holy Grail with the latest announcement. This latest Rooster Talk is a discussion on what the news mean for the company. Could this be an endorsement of the entire Clay Rare Earth sector? The latest News - Hot of The Press. The first conversation I had with Brett Hazelden was on Coffee with Samso with this story - OD6 Metals Limited (ASX: OD6) - The Rare Earth Elements Story.) where my understanding for the Clay Rare Earth sector was initiated. I had to admit I had little foundation then and what I had learnt before was scarce. Now that we have had four lessons with Brett, I am starting to believe that I know this sector. Figure 1: Project locations for OD6 Metals Limited. (source: OD6 Metals) The two projects, Splinter Rock and Grass Patch makes OD6 Metals Limited (Figure 1). The latest announcement is critical as it puts the question of "Can they get the REE out?" I feel that this question would have been on many lips and now it is confirmed. "The current drilling is no longer a guessing game.", Brett Hazelden confidently explains ... The process is now pretty much a step at a time but one has to feel that things are gearing towards the positive. What is important now is using the announced results and moving into the refinement of the process. When Brett talks about the path forward, I feel like there is a fair amount of confidence that OD6 knows what they are expecting. An interesting comment that I remember was that the current drilling is no longer a guessing game. They are expecting results as projected. The geology, which is a common feature in all these type of deposits, are consistent and there are not much variability. This is what Brett has been told by his competent person, who knows the deposit style. What that means is that there will be no surprises from the current drilling program. Brett reminds us that the potential resource in both the projects are going to be big. He says the potential resource will be comparable to that of Ionic Rare Earths Limited (ASX: IXR). There are already similarities and Brett is optimistic that OD6 will be in the same league or larger. He also spoke of comparisons to another peer, Australian Rare Earths Limited (ASX: AR3). What are the Key Points of the Announcement? All system is a go which is the take away point of this Rooster Talk. The much anticipated metallurgical results have come and the results are consistent with OD6's expectations. OD6 now understands the geology and the mineralisation better. The resource building exercise appears to be simpler as management now knows where the better grades and recoveries are located. The potential future resource is going to be big. The scale is not what investors may be used to as the number is going to be big. The simplistic nature of the geology will also mean that the resource definition process will be easier. Samso Conclusion Having the fortune to have followed the OD6 journey for a while has been one of the best feelings of doing this job. I have always said that the business will be on its way forward once some results on the chemistry is known. Although, this is still very early stage, the results from the latest test indicates consistency moving forward. The recovery rates in the 70% range appears to be what management was looking for as a start. The segregation of the impurities in the coarser fragments is fortuitous. The physical separation of the coarser materials forming the fines will simplify the quality control process. I was once told that OD6 had a good project. When I first looked at the company and after doing a few Coffee with Samso and Rooster Talks, I agreed. However, the burning question was still about whether they can process the end product. As I understand from Brett, this is the first step to answering that question with conviction. I think when viewers watch the Rooster Talk, you will feel that there is some level of confidence in his voice. The resource is going to be big and he says, we only need 5% of that. Chapters: 00:00 Start 00:26 Introduction 00:59 Brett introduces the Findings from the announcement. 01:47 The details of the announcement. 06:12 Process of Defining the Quality of the REE End Product. 09:00 The Acid usage Discussion 11:12 Investors Expectations - Comparisons to Peers 14:56 Resource potential of OD6 4 projects. 16:04 Prop Prospect 18:28 It is all about the Stripping Ratio. 18:58 The "Good" Areas. 19:50 The perfect place for a project. 21:43 Market Sentiment - Critical Minerals Demand 23:53 News Flow 25:06 Drilling results should be consistent with previous drilling. 26:42 Easy to resource Clay REE Geology. 27:58 The Results Confirm that OD6 will Work. 28:51 Conclusion PODCAST This is a good time to download the first Ebook (FREE) from Samso as it is all about VMS (Volcanogenic Massive Sulfides). About Brett Hazelden Managing Director & Chief Executive Officer BSc, MBA, AICD Mr Hazelden is a Metallurgist who brings over 25 years’ experience serving the Australasian resources industry. His experience includes being a Company Director, Managing Director, CEO, Project Manager, Study Manager and originally a Metallurgist in an operating environment. Mr Hazelden brings a diverse range of capabilities from exploration, project development studies, research and development, project approvals, offtake agreements, equity raising, debt financing plus mergers and acquisitions. He has worked across multiple commodities including potash, gold, copper, zinc, lead, iron ore, tungsten, salt, diamond and now rare earth sectors. Most recently, Brett was the Co-founder and Managing Director/CEO of Kalium Lakes (ASX:KLL). Mr Hazelden was appointed as a Director on 1 April 2022. Mr Hazelden is not considered to be an independent Director as he is engaged in an executive capacity. About OD6 Metals Limited (ASX: OD6) OD6 Metals is an Australian public company with a purpose to pursue exploration and development opportunities within the resources sector. The Company holds a 100% interest in the Splinter Rock Project and Grass Patch Project which are located in the Goldfields-Esperance region of Western Australia, about 30 to150km north of the major port and town of Esperance. The projects are considered prospective for clay rare earth elements (REEs), with the Company’s aim of delineating and defining economic resources and reserves to develop into a future revenue generating operational mine. Clay REE deposits are currently economically extracted in China who is the dominant world producer. Rare earth elements (in particular, Nd and Pr), are becoming increasingly important in the global economy, with uses including advanced electronics, permanent magnets in electric motors and electricity generators (such as wind turbines) and consumer electronics. Why OD6 Metals? Emerging REE major new clay province in WA, potentially competitive with China’s deposits. Dominant land position with over 4,800 km2 Located close to Esperance port, sealed roads and renewable energy infrastructure. Extensive Clay REE in 10 to 37m thick blanket over very large areas . Wide intersections of TREO with excellent Nd-Pr concentrations of 20% Multiple targets for potentially globally significant REE resources. Excellent regional metallurgy. Clay REE’S are typically low capital intensity and high margin product. Significant supply shortage forecast due to rapid demand increase for renewable power, electric vehicles and electronics. Critical metals being prioritised by Governments around the world (need for diversity of supply away from China). Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. About Samso Keep us informed too! Please let us know your thoughts and send us any comments to info@samso.com.au. Remember to Subscribe to our YouTube Channel, Samso Media and our mail list to stay informed and make comments where appropriate. Other than that, you can also give us a Review on Google.

Coffee with Samso Episode 172 is with Julian Ford, CEO of Riversgold Limited (ASX: RGL). Riversgold is blessed with good fortune, finding a Lithium deposit in an old fashioned way of mineral exploration. Riversgold has been pursuing their Tambourah Lithium project earnestly. Investors need to understand why there is a need to pay attention to this minnow in an exciting sector of the EV market. What may differentiate Riversgold from their peers is kind of complex. The Riversgold Story Interview with Julian Ford The Equity Market and why companies like Riversgold should be on your trading screen The Lithium Price Journey - The economic viability of a lithium project is more important now Samso's Conclusion The Riversgold Story Why do I like the Riversgold story? It is one of the few exploration companies that are actually doing some real exploration. When you look at the companies that are out there exploring for lithium, you will be very surprised to find one that is actually exploring. What I mean is that the majority, if not all, of the stories out there are ones where they have found a pegmatite on the surface and then drilled with discovery almost handed to them. These are the benefits of having low hanging fruits. I am not saying that this is a liability. What I am implying is that not everyone is blessed with such good fortunes. Figure 1: Riversgold Bengal Prospect within the Tambourah Project in the Pilbara Region of Western Australia. Riversgold seems to have gone that extra step to explore for the economic grades of spodumene. During the interview, Julian talks about how they are realising that they may be too close to the granite source. The mineralisation may be more fruitful further. The drilling intercept from TMBRC003 (listed below) is what lays hidden below the surface. TMBRC003 (See Figure 1) intersected: 14m @ 0.50% Li2O from 15m to 29m downhole including 1m @ 1% Li2O from 18m down hole Applying a 0.5% Li2O assay threshold cut-off within the 14m downhole intersection, two smaller intersections of 4m @ 0.9% Li2O from 17m to 21m and 3m @ 0.6% Li2O from 25m to 28m downhole were identified reflecting zonation of Li2O grade within the pegmatite unit. When you watch today's Coffee with Samso, you will hear Julian Ford talking about a systematic process in trying to find an economic deposit. Readers must remember that the easy pegmatites have now all been discovered. What lies underneath in the depths of these projects will be the next prize. The lithium industry in Australia, the real spodumene discovery is still young. The Riversgold's story is one that has developed from concept to what is now creating some credibility. This is the virtue of mineral exploration. The more you drill, the more confident you become in creating a dream into reality. I think Riversgold has come a long way since our first Coffee with Samso in October 2022. Riversgold Limited (ASX: RGL) - Vectoring into the next Lithium Discovery. Listen to Julian Ford here: Chapters: 00:00 Start 00:20 Introduction 01:05 What is Riversgold about? 02:59 Updates on Riversgold projects: Mt Holland. 04:27 Mt Weld. 06:45 Tambourah Lithium Project. 11:09 Hypothesis for finding lithium. 14:06 What should investors look out for as a parameter for grade and size? 15:16 Thoughts on the current lithium market. 18:50 How should investors look at Riversgold? 22:25 How is Riversgold spending resources on their projects? 25:22 Comments on doubts about the demand of lithium. 27:21 News flow. 28:26 Why RGL? 31:16 Conclusion While companies are drilling for minerals, investors can drill for information. Keep reading and build your knowledge for your DYOR. The Equity Market and why companies like Riversgold should be on your trading screen. Investors in the Australian Stock Exchange (ASX) are spoilt with companies that are promising the lithium prize. In the last two years, lithium stories dominated and commanded a lot of attention. The rush meant that investors were washed with stories and that made it hard to differentiate good from bad. To add salt to the wound, it also meant that investors could not tell what is a realistic potential and what is a pipe dream. Figure 2: Riversgold share price chart. (Source: Commsec) Let's get some context to the current market condition before we get into the Riversgold story. Historically, the small-cap market has been notorious for promising more than delivering and the last two years (since COVID) have been exemplary. If I am not mistaken, over AUD $1 billion has been raised in the small-cap commodity space (Figure 3). As I write today, investors have suddenly been thinking that this was normal and the bull run would last a long time. They are fundamentally not incorrect. The market may be slow and not responding, but the commodity pricing is still strong. The fundamentals are still solid. This move toward Clean Energy is not reversible. Figure 3: Top of the IPO market was in 2021. 2022 followed but it was greatly reduced as compared to 2021. What is bad is in 2015. If anyone remembers, 2015 was when every commodity was heading south. Even oil and gas was heading south. There was no equity appetite and there was no sight of when the commodity pricing would recover. What was worse was what was going to create the demand - the surge in demand that will spur a commodity bull run. Come back to 2023 and I believe that the main factor restricting funding is the rising interest rate. One can debate when the rates will pause and fall. What is sure is that there is nothing wrong with the commodity market. So the bearish tone in the market is most likely going to be temporary. The Lithium Price Journey - The economic viability of a lithium project is more important now. So the next part of this conversation is all about the Lithium pricing. As I mentioned, two years ago, Lithium was a word that could do no wrong. Companies that stumbled onto some "lithium pegmatites" or some pegmatites were able to raise money immediately. For me, there was always the need to discover an economic deposit. As an investor, I need to know if there is some resemblance of a chance to make that discovery. The market and the eagerness of investors is to ignore this and just go with the flow. My conservative thinking comes from the fact that I remember that it was not so long ago that the great Pilbara Minerals Limited (ASX: PLS) was almost broke. The lithium market had come to a point where Pilbara Minerals was the last man standing in Australia (See Figure 4). Altura Mining Limited which had a project adjacent to Pilbara Minerals and was the second in line for lithium glory was in administration and now has been consumed by Pilbara Minerals. (Source: https://seekingalpha.com/) As you can see in the chart below (Figure 4), it points to the steep rise in price and today, we are looking at almost a greater than 50% retracement. What is not obvious with the steep drop is that there is still no sight of a replacement for lithium in batteries where density of charge is concerned. If this is to be the case, then the price drop may be temporary and at worst rest a new path which at the current price, is still significantly higher than its low in 2021. Figure 4: Lithium Carbonate price chart (Source: Trading Economics) What this means is that the future for lithium is still bright but you better make sure your deposit is good. I think that the future lithium project has to be back to basics, meaning it needs to have the same economic parameters like every other project. Samso's Conclusion The Lithium sector is one of the most intriguing stories to comment. The demand for lithium cannot be dismissed and taken for granted. There is no shortage of narratives that tell investors that there is an endless demand for the metal. There are a lot of potential alternatives to lithium batteries but they are too slow and they cannot compete in the density of charge factor. So there seems to be a clear pathway for lithium to dominate proceedings in the future. Hence, companies are all pushing the lithium song. However, when you look at what kind of projects are being marketed, investors should start asking pertinent questions on the viability and the reality of extracting the metal economically. Lithium is not an anomaly. It has its place like every other commodity that has ever been mined or sucked out of the reservoirs. We have moved from horse carriages to hydrocarbon infused vehicles and are now moving into electrical automobiles. These paraphilias are all not immune to the simple demand and supply requirements. Price actions determine all matters that affect the viability of the project. Hence, for me, if one is investing for a market volatility (always short term) then please forgive my thoughts. For those that are looking at long term actions, then the reality of finding an economic viability is important. In my opinion, what I am seeing and hearing from Riversgold seems to be in step with building the long term story. It is easy to look at management and say that just because they failed before, they will fail again. But ask any well aged investor and they will tell you the old story of Great Fortunes falling to Great Failure and Great Failures turning to Great Fortunes. Hence, in the case of Riversgold, they have said and done the things when we first met them in October 2022. So there is no reason to doubt their next move. Management looks good and the old team of David Lenigas and Ed Mead has returned. Some have made money from this team and some have lost. So time will tell. PODCAST This is a good time to download the first Ebook (FREE) from Samso as it is all about VMS (Volcanogenic Massive Sulfides). About Julian Ford Chief Executive Officer Mr Ford has 30+ years experience in the mining industry with global experience including Australia, Africa, South East Asia and South America. Mr Ford has held senior positions within several major resource companies including Alcoa, British Gas, Western Metals Limited. Since 2004, Mr Ford has focused on managing a number of successful start-ups, including transitioning a number of these from concept/exploration to production. Mr Ford holds a degree in Chemical Engineering from the University of Natal, a Bachelor of Commerce from the University of South Africa and a Graduate Diploma in Business Management from the University of Western Australia. He has been a member of the AusIMM for 20 years. About Riversgold Limited (ASX: RGL) Riversgold Ltd is an ASX-listed exploration company focused on discovering and developing large lithium systems in the world-renowned Pilbara and Yilgarn cratons of Western Australia. In early 2022, the Company acquired a suite of four lithium-prospective exploration tenement applications covering 164km2 in the Pilbara region. The key Tambourah Project is underexplored and has the potential to host a major lithium-caesium-tantalum system much like the nearby Pilgangoora and Wodgina deposits. Further, the Company has acquired a tenement package of 292km2 prospective for lithium in the Southern Cross-Marvel Loch region of Western Australia as well as securing an option to acquire 80% of tenement E77/2784 immediately to the east of the globally significant Mt Holland lithium project in the same region. The Riversgold portfolio also offers strong exposure to gold and nickel through its large landholding at the Kurnalpi Project in the Yilgarn. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. About Samso Keep us informed too! Please let us know your thoughts and send us any comments to info@samso.com.au. Remember to Subscribe to our YouTube Channel, Samso Media and our mail list to stay informed and make comments where appropriate. Other than that, you can also give us a Review on Google.

The segment of Rooster Talk Episode 70 is with Karyn Parker, Senior Exploration Geologist of Poseidon Nickel Limited (ASX: POS). In the video, Karyn tells us about the prospectivity of the Lake Johnston project. Karyn describes in detail the process in which exploration will be conducted to reveal the prospectivity of the project. This is an insight into what the team at Poseidon is doing in shaping up the project for a long life mine. Karyn had considerable responsibility for submitting a highly contested Government Grant application for funding a drilling program at their Lake Johnston site. The Exploration Incentive Scheme (EIS) Grant of up to $180,000 was successfully awarded to Poseidon and will be used for subsidising the cost of the proposed 15,000m drilling program. The drilling is expected to get underway in early April and will test the highly prospective and underexplored Western Ultramafic Unit for new nickel sulphides. The proposed program aims to delineate and vector towards channel features along the basal contact of the Western Ultramafic Unit, the prime geological setting where nickel sulphides can accumulate. Karyn is very excited about commencing drilling at Lake Johnston where she will also be looking at opportunities to explore for lithium. Additionally, Karyn will be planning further investigative testing at both the Black Swan and the Windarra sites. Check out the conversation in this Rooster Talk and, as I always encourage, DYOR. Chapters: 00:00 Introduction and review of Karyn’s career. 01:50 Comments on the Announcement in respect to the Lake Johnston drilling program kicking off in early April. 03:30 The fertility of the Lake Johnston target area, inclusion of historical data indicating follow up drilling in overlooked areas. 04:55 Discussion of nickel grades around Lake Johnston site. 05:10 The anticipated nature of material mined from Lake Johnston versus ore from Black Swan site. 06:55 The Government drilling grant for Lake Johnston; Karyn’s role in preparing a successful submission. 08:45 Recalling her handling of super high grade core assays from Silver Swan/Golden Swan. Exploration potential for hitting more bonanza grade veins. 10:45 Tony’s comment on drilling targets. PODCAST About Karyn Parker Senior Exploration Geologist Karyn Parker is a geologist with over 15 yrs experience in nickel sulphide exploration within Western Australia. Her career includes working in near mine exploration at Forrestania and Black Swan for Outokumpu Mining Australia, before joining Jubilee Mines. Karyn has also worked for several juniors in the southern Goldfields, conducting and running exploration programs in Norseman and Lake Johnston. In 2007 she was appointed Exploration Manager for Hannans. Karyn joined Poseidon Nickel in January 2022 and is a member of the Australian Institute of Geoscientists (AIG). About Poseidon Nickel Limited (ASX: POS) Poseidon owns three significant nickel assets with a combined resource of over 400kt of nickel and processing capacity of up to 3.7Mtpa of ore to produce nickel concentrate. The Company’s business strategy is focussed on leveraging its existing asset base to grow Poseidon into a significant nickel producer over a period of expected significant growth in nickel demand largely driven by growth in the electric vehicle market. Poseidon’s strategic pillars are developing a pathway to production, targeted exploration across its nickel asset portfolio and considering proximal business development opportunities. The key enablers for the Company’s strategy to be successfully executed are ensuring key capabilities are resourced and the business is sufficiently funded for growth underpinned by a strong ESG framework. Poseidon Business Strategy The Company’s pathway to production was significantly progressed during FY22 with two metallurgical breakthroughs which could significantly improve the economics of the Black Swan project. The first involves incorporating a rougher concentrate regrind into its process flowsheet to significantly improve the quality of the smelter grade concentrate, which is expected to result in improved nickel payability. The second was testwork on a combined serpentinite and talc carbonate ore blend to produce a rougher concentrate which is amenable to both pressure oxidation and high-pressure acid leach to produce a mixed hydroxide precipitate. With the assistance of Poseidon’s geological consultants, Newexco, the Company completed an exploration targeting report for Lake Johnston during FY22, with follow up reports for Black Swan and Windarra to be delivered in FY23. The Lake Johnston report identified the Western Ultramafic Unit as a priority, with a program of works approved to undertake 15,000 metres of RC drilling which is planned for FY23. The Company’s business development efforts over FY22 focused on delivering value from the Windarra/Lancefield gold tailings project. Partnering with Green Gold and determining whether their proprietary gold recovery technology is suitable for Windarra/Lancefield is considered the optimal path to unlocking value from this project. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. About Samso Keep us informed too! Please let us know your thoughts and send us any comments to info@samso.com.au. Remember to Subscribe to our YouTube Channel, Samso Media and our mail list to stay informed and make comments where appropriate. Other than that, you can also give us a Review on Google. Samso-Brilliant Distribution Outreach Powerful Advertising opportunities for Samso’s ASX and private business clients. The Brilliant-Online partnership is an opportunity to reach new and wider audiences in a fresh, appealing format to pique and retain investor interest. Contact Veronica directly for your special Samso-Brilliant advertising rate. Read Brilliant Investments

Craig Jones, General Manager - Mining of Poseidon Nickel Limited (ASX: POS) joins us on a segment of Rooster Talk Episode 70. Craig as the General Manager - Mining gives us some thoughts on how the Lake Johnston project will begin its journey to becoming the next nickel mine in Western Australia. As investors struggle to get a grip on how to view and understand the processes required to move to the mining stage, this is a great conversation for investors to get some clarity. There is always going to be a learning curve for the average investor to know the ins and outs of the story, but getting your favourite beverage and taking the time to watch is a great start. Craig has a strong focus on preparing all operations in advance of starting up production at Black Swan as well as supporting the multiple exploration programs. He is making sure that all necessary works are in train and in accordance with the blueprint laid out in the BFS prior to the FID. During this preliminary period, he is working on a range of activities associated with launching into the intense phase of works around refurbishing the Black Swan processing facility. The plant has been in care and maintenance for quite a long time, but Craig has ensured that it has been carefully investigated and has mapped out a program attending to a number of practical matters such as building ventilation rises, having electrical and plumbing infrastructure ready, continuing dewatering of the open pit, getting fuel supplies in place, setting up administrative offices etc. The ordering of key refurbishment components has also been examined and a process is in place so that orders can be enacted quickly after the FID is announced. Check out the conversation in this Rooster Talk and, as I always encourage, DYOR. Chapters: 00:00 The role of the General Manager Mining. 00:59 Comments on the BFS and then asking about placement of POS to move into refurbishing the Black Swan processing plant, post FID and Project Funding/Offtake Agreements. 02:37 From now to June, what is POS undertaking prior to the restart decision? 03:28 Once the Black Swan restart commences, what is an outline of the main steps involved in completing the refurbishment? 04:19 What level of confidence is there in the process of starting up an idle plant? 04:45 After the drilling program at Lake Johnston, a description of the activities and approach to exploration. 05:42 Summary and final comments. PODCAST About Craig Jones General Manager - Mining Craig Jones is a highly experienced mining executive and qualified mining engineer with more than 28 years’ experience in West Australian underground hard-rock mining within the resource industry. Prior to his appointment in February 2022, he was the Chief Operating Officer for Bellevue Gold where he was instrumental in establishing the restart of the historical operation, leading the feasibility study and an integral team member involved in the financing of the project. Prior to his most recent role, he held senior roles in operations, mine management and business development for various mining companies including Northern Star Resources. Craig has been instrumental in optimising, integrating and operating underground mines as well as upgrading mill infrastructure and installation of major capital projects at various operations. Craig has a Bachelor of Engineering (Mining) from the University of Ballarat and holds a WA First Class Mine Manager’s Certificate. About Poseidon Nickel Limited (ASX: POS) Poseidon owns three significant nickel assets with a combined resource of over 400kt of nickel and processing capacity of up to 3.7Mtpa of ore to produce nickel concentrate. The Company’s business strategy is focussed on leveraging its existing asset base to grow Poseidon into a significant nickel producer over a period of expected significant growth in nickel demand largely driven by growth in the electric vehicle market. Poseidon’s strategic pillars are developing a pathway to production, targeted exploration across its nickel asset portfolio and considering proximal business development opportunities. The key enablers for the Company’s strategy to be successfully executed are ensuring key capabilities are resourced and the business is sufficiently funded for growth underpinned by a strong ESG framework. Poseidon Business Strategy The Company’s pathway to production was significantly progressed during FY22 with two metallurgical breakthroughs which could significantly improve the economics of the Black Swan project. The first involves incorporating a rougher concentrate regrind into its process flowsheet to significantly improve the quality of the smelter grade concentrate, which is expected to result in improved nickel payability. The second was testwork on a combined serpentinite and talc carbonate ore blend to produce a rougher concentrate which is amenable to both pressure oxidation and high-pressure acid leach to produce a mixed hydroxide precipitate. With the assistance of Poseidon’s geological consultants, Newexco, the Company completed an exploration targeting report for Lake Johnston during FY22, with follow up reports for Black Swan and Windarra to be delivered in FY23. The Lake Johnston report identified the Western Ultramafic Unit as a priority, with a program of works approved to undertake 15,000 metres of RC drilling which is planned for FY23. The Company’s business development efforts over FY22 focused on delivering value from the Windarra/Lancefield gold tailings project. Partnering with Green Gold and determining whether their proprietary gold recovery technology is suitable for Windarra/Lancefield is considered the optimal path to unlocking value from this project. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. About Samso Keep us informed too! Please let us know your thoughts and send us any comments to info@samso.com.au. Remember to Subscribe to our YouTube Channel, Samso Media and our mail list to stay informed and make comments where appropriate. Other than that, you can also give us a Review on Google. Samso-Brilliant Distribution Outreach Powerful Advertising opportunities for Samso’s ASX and private business clients. The Brilliant-Online partnership is an opportunity to reach new and wider audiences in a fresh, appealing format to pique and retain investor interest. Contact Veronica directly for your special Samso-Brilliant advertising rate. Read Brilliant Investments

The path to production is now gathering pace. Rooster Talk Episode 70 is packed with updates and insights and we have not one but three thought leaders share their knowledge in this episode. We begin our trilogy with Peter Harold, Managing Director and CEO of Poseidon Nickel Limited (ASX: POS). Jump to: Introduction About Poseidon Nickel Limited Company Mission Poseidon's Projects All about Black Swan Poseidon Business Strategy Nickel Market Comments Other Projects Poseidon Nickel Limited: 3 Year Share Price Poseidon Points of Difference Samso's Conclusions Podcast Introduction The Poseidon story is fascinating, with a journey stretching all the way back to the 1960s and the legendary nickel boom that spiked the stock from a few cents up to over $280 before plummeting back to earth again by early 1970. The resurrected Poseidon has experienced quite a few bumps along the road to production, gearing up towards a restart at a time of strong nickel price outlook due to the EV revolution. This is all set to change dramatically as the company reaches a key inflection point - making a Final Investment Decision and signing Project Funding and Offtake Agreements. About Poseidon Nickel Limited Poseidon Nickel Limited (ASX Code: POS) is a nickel sulphide exploration and development company with three projects located within a radius of 300km from Kalgoorlie in the Goldfields region of Western Australia and a resource base of around 400,000 tonnes of nickel and 180,000 ounces of gold. Poseidon owns the Windarra, Black Swan and the Lake Johnston Nickel Projects. In addition to the mines and infrastructure including concentrators at Black Swan and Lake Johnston, these projects have significant exploration opportunities demonstrated by the discovery of the Abi Rose deposit at Lake Johnston and the Golden Swan high-grade resource discovered at Black Swan in 2020. Company Mission Poseidon is committed to becoming a sustainable nickel producer, delivering value through performance and growth. The commencement of mining and processing at Black Swan is viewed as a first step in the Company's "Fill the Mill" strategy which the stated goal of growing the business to a 15ktpa plus nickel producer over the next 5-10 years. Poseidon owns three significant nickel assets with a combined resource of over 400kt of nickel and processing capacity of up to 3.7Mtpa of ore to produce nickel concentrate. The Company’s business strategy remains focused on leveraging its existing asset base to grow Poseidon into a significant nickel producer over a period of expected significant growth in nickel demand, largely driven by growth in the electric vehicle market. Check out the conversation in this Rooster Talk and, as I always encourage, DYOR. Poseidon’s strategic pillars are: developing a pathway to production targeted exploration across its nickel asset portfolio considering proximal business development opportunities. Poseidon's Projects Here are Poseidon's projects at a glance. BLACK SWAN NICKEL PROJECT • Open pit and underground mineral resources • Significant established mining and processing infrastructure • Bankable Feasibility Study completed in Nov 2022 • Planning to make FID mid 2023 and production by mid 2024 LAKE JOHNSTON NICKEL PROJECT • Strong exploration potential, exploration drilling about to commence • Significant established mining and processing infrastructure • Previous mining studies being reviewed WINDARRA NICKEL/GOLD PROJECTS • Significant nickel mineral resource • Potential to mine nickel ore and process at Black Swan • Gold tailings resource with BFS, partner found, due diligence underway All about Black Swan Features • 2.2Mtpa processing plant • Silver Swan underground 12.9kt Ni (grade - 9.5%) • Golden Swan underground 6.3kt Ni (grade - 3.9%) • Silver Swan Tailings - 6.2kt Ni (grade - 0.92%) • Black Swan Disseminated 181kt Ni (grade - 0.63%) • Southern Terrace remains prospective for additional high grade discoveries History The Black Swan Project is located approximately 600km east of Perth and 50km northeast of Kalgoorlie, Western Australia and 300kms south of Poseidon’s Windarra Nickel Project. The project commenced operations in 1997 and operated continuously until 2008. The following production was achieved: • Black Swan Open Pit - 5.9Mt @ 0.7% Ni for 41kt Ni in concentrate • Silver Swan Underground - 2.7Mt @ 5.1% Ni for 138kt Ni in concentrate • Total production 179kt Ni concentrate Poseidon Business Strategy The Company’s pathway to production was significantly progressed during FY22 with two metallurgical breakthroughs which has significantly improved the economics of the Black Swan project. The first involves incorporating a rougher concentrate regrind into its process flowsheet to significantly improve the quality of the smelter grade concentrate, which has resulted in improved nickel payability. The second was testwork on a combined serpentinite and talc carbonate ore blend to produce a rougher concentrate which is amenable to both pressure oxidation and high-pressure acid leach to produce a mixed hydroxide precipitate. This culminated with the delivery of the Feasibility Study on the 1.1Mtpa project to produce high grade nickel concentrate suitable for conventional nickel smelters. Refer to ASX Release dated 21 November 2022 "Positive Black Swan Feasibility Study". The Company is now working with a short list of potential offtakers and project financiers with the aim of reaching a Financial Investment Decision during the second quarter of 2023. With the assistance of Poseidon’s geological consultants, Newexco, the Company completed an exploration targeting report for Black Swan with three high priority targets identified. Newexco is now preparing a drilling program and budget to test these targets. Nickel Market Comments As Poseidon moves towards the proposed restart of Black Swan to become a nickel producer – the nickel price fundamentals outlook, with the backdrop of the new world of energy storage and EVs, is arguably the strongest we have ever seen. The strong performance of the nickel price and the positive price outlook, based on robust demand growth of nickel in electric vehicle batteries is critical to the “Fill the Mill” Strategy. Primary nickel demand is forecast to grow from 3Mtpa in 2022 to around 5Mtpa by 2030 and a staggering 10Mtpa by 2050. In our view this should result in the nickel price staying well above US$20,000 per tonne for the foreseeable future. The primary focus for Poseidon has been advancing the Black Swan Feasibility Study and during this process a major breakthrough on the metallurgy was achieved. The addition of a regrind mill which will utilise the existing Silver Swan mill, increases the nickel grade and reduces the MgO content of the final concentrate. This will make the smelter grade concentrate more attractive to traditional nickel smelters and should lead to optimal nickel payabilities being achieved. It was also recognised that a lower grade nickel concentrate (5-7% nickel) could be produced with a higher MgO content that should be attractive feed to both high pressure acid leach and pressure oxidation plants. Consequently, the scope of the Fill the Mill Strategy has been widened to include a full feasibility study on the “rougher concentrate option”, which would mean recommissioning both the SAG and ball mills at Black Swan and operating at 2.2Mtpa throughput. This will also allow processing of the talc carbonate ore which is not included in the 1.1Mtpa throughput smelter grade concentrate study and has potential to increase the project life. This study will be completed in the June 2023 quarter and should coincide with the completion of Pure Battery Technologies feasibility study on the 50ktpa pCAM refinery proposed for Kalgoorlie. Poseidon is working closely with Pure Battery Technologies since signing the MoU with them in July 2021, as the Black Swan rougher concentrate would be an ideal base feed for their proposed refinery. The rougher concentrate could also be suitable feed for a pressure oxidation and/or high pressure acid leach plants and a dialogue has been opened with a select group in relation to this opportunity. Assuming a decision to proceed is made during 2023 (whether based on a 1.1Mtpa or 2.2Mtpa throughput operation), production of concentrate could commence by around mid-2024 to take advantage of the strong nickel price environment. The decision on the larger tonnage, rougher concentrate project, will be dependent on the outcome of the feasibility study and discussion with potential customers for that product. Other Projects There is significant infrastructure at Lake Johnston, including a 1.5Mtpa concentrator and the Maggie Hays orebody which contains 52,000 tonnes of nickel. A comprehensive geological review of the Lake Johnston tenements has confirmed there are numerous targets that could generate more komatiite style orebodies and there is even the possibility of finding an intrusive orebody like Nova-Bollinger. A 15,000 metre RC drilling program is due to commence in April to test the Western Ultramatic unit. At Windarra, 25 kilometres west of Laverton, there is a significant resource base of approximately 150,000 tonnes of nickel. The economics of mining ore from Mt Windarra and trucking it to Black Swan is being studied. In addition, Windarra is highly rated in terms of exploration potential and it is intended to do more exploration there in the future. Newexco are preparing an exploration target report for the Company. Poseidon’s ultimate goal is to be mining ore from Black Swan, Lake Johnston and Windarra and processing these ores through mills at Black Swan and Lake Johnston to produce nickel in concentrate. The Black Swan BFS confirmed the economic viability of achieving that goal -: The highlights from the BFS include -:  NPV of $248M, free cashflow of $333M and an IRR of 103% at spot Ni and FX.  Low pre-production capital – inc ~ $38M for the refurbishment (46 weeks construction).  High grade nickel concentrate (15%) – good Fe Mg ratio – highly desirable smelter feed. Poseidon Nickel Limited: 3 Year Share Price It can be a rough ride for the share price as a company transitions from explorer, having resources defined to ultimately becoming a developer. This graph charts that course but we strongly believe better times are ahead for shareholders and all associated with this attractive nickel development company. Poseidon - Points of Difference Samso’s Conclusions (Tony’s Take) We believe POS is about to embark on that final, exciting phase of a mining company’s journey – commencing production. The long term outlook for nickel is excellent and Poseidon is virtually unique, globally, amongst all those prospective and near term producers. It has multiple existing nickel assets from average to high to super high grade ores and strong drilling exploration targets - and it has infrastructure valued conservatively at over $600 million replacement value. The share price on the other hand, has waxed and waned at a relatively low level for more than a decade of trading, suffering from historical nickel price setbacks and this has induced a level of scepticism that, frankly, is unwarranted. Mr. Market values their shares at a paltry 3.6 cents, with a market cap of circa $120 million. The experienced management team in place led by Peter Harold has been diligently working through all the necessary precursors to production and during that process they have unlocked enormous economic potential. It is our firm belief that Poseidon will be substantially re-rated this year and, therefore, there is a great opportunity to get in early ahead of key announcements regarding the FID and Project Funding and Offtake Agreements. Chapters: 00:00 Introduction 01:17 Recap of March 6 Announcement; Black Swan Project progress leading to Final Invest Decision (FID) and Project Funding/Offtake Agreement. 05:12 Market perception and assay results implications. 07:50 The Expansion Project: investigating and modelling increasing the existing plant throughput from 1.1 mt/pa to 2.2 mt/pa. The production of two different grades and forms of nickel concentrate. 14:48 Cost implications of production expansion (per unit and capex). 16:03 Life of Mine comments. 19:05 Holistic mining scenarios, incorporating Lake Johnston with Black Swan and Windarra assets (all geographically separated sites). 25:23 Cascading effect of multiple assets becoming mined over time. 26:39 Refurbishment of Black Swan processing plant – time to complete and get into production. 27:26 Confidence in achieving the milestone of FID and Project Funding/Offtake Agreement. 32:15 Concluding comments from Tony. PODCAST About Peter Harold Managing Director and CEO Peter Harold (B.AppSc (Chem) AFAICD) is a process engineer with over 30 years corporate experience in the minerals industry, specialising in financing, marketing, business development and general corporate activities. He was the Managing Director of Panoramic Resources from 2001-2019, a company he co-founded as a $3 million IPO in 2001. Peter steered Panoramic through the financing and development of the Savannah Nickel Project in the East Kimberley and the acquisition and re-start of the Lanfranchi Nickel Project near Kambalda with the company reaching a market capitalisation of $1.2 billion in 2007. He was more recently involved in bringing the Savannah Project out of care and maintenance and back into production. Peter has extensive experience in base metal mining project feasibility studies, financings, developments, operations and marketing. About Poseidon Nickel Limited (ASX: POS) Poseidon owns three significant nickel assets with a combined resource of over 400kt of nickel and processing capacity of up to 3.7Mtpa of ore to produce nickel concentrate. The Company’s business strategy is focussed on leveraging its existing asset base to grow Poseidon into a significant nickel producer over a period of expected significant growth in nickel demand largely driven by growth in the electric vehicle market. Poseidon’s strategic pillars are developing a pathway to production, targeted exploration across its nickel asset portfolio and considering proximal business development opportunities. The key enablers for the Company’s strategy to be successfully executed are ensuring key capabilities are resourced and the business is sufficiently funded for growth underpinned by a strong ESG framework. Poseidon Business Strategy The Company’s pathway to production was significantly progressed during FY22 with two metallurgical breakthroughs which could significantly improve the economics of the Black Swan project. The first involves incorporating a rougher concentrate regrind into its process flowsheet to significantly improve the quality of the smelter grade concentrate, which is expected to result in improved nickel payability. The second was testwork on a combined serpentinite and talc carbonate ore blend to produce a rougher concentrate which is amenable to both pressure oxidation and high-pressure acid leach to produce a mixed hydroxide precipitate. With the assistance of Poseidon’s geological consultants, Newexco, the Company completed an exploration targeting report for Lake Johnston during FY22, with follow up reports for Black Swan and Windarra to be delivered in FY23. The Lake Johnston report identified the Western Ultramafic Unit as a priority, with a program of works approved to undertake 15,000 metres of RC drilling which is planned for FY23. The Company’s business development efforts over FY22 focused on delivering value from the Windarra/Lancefield gold tailings project. Partnering with Green Gold and determining whether their proprietary gold recovery technology is suitable for Windarra/Lancefield is considered the optimal path to unlocking value from this project. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. About Samso Keep us informed too! Please let us know your thoughts and send us any comments to info@samso.com.au. Remember to Subscribe to our YouTube Channel, Samso Media and our mail list to stay informed and make comments where appropriate. Other than that, you can also give us a Review on Google. Samso-Brilliant Distribution Outreach Powerful Advertising opportunities for Samso’s ASX and private business clients. The Brilliant-Online partnership is an opportunity to reach new and wider audiences in a fresh, appealing format to pique and retain investor interest. Contact Veronica directly for your special Samso-Brilliant advertising rate. Read Brilliant Investments

Coffee with Samso Episode 171 is with Amanda Buckingham, Managing Director and CEO of Warriedar Resources Limited (ASX: WA8). What a pleasant surprise to come across such a great story. I reached out to Amanda late last year and today we finally completed this Coffee with Samso. Amanda told me that the company was finalising an acquisition which will make Warriedar a compelling story. She was right. The Warriedar story is about is about a project with limited deep drilling and a previous focus on gold only. The location of the project is one has to be envied, adjacent to one of the most economical Volcanogenic Massive Sulphide (VMS) producing mines in Australia. It is also in an area well known for base metal (copper) mineralisation. Warriedar Resources Limited (ASX: WA8) Warriedar Resources was once Anova Metals Limited. The name change came about with the acquisition of the Murchison projects, Golden Range and Fields Find (Figure 1). When I came across the company, they were in the transition period. The acquisition of the new projects definitely makes the company more interesting, for me anyway. Why do I like the Warriedar Story? The average depth of drilling for the entire area is 42m, the historical operation was solely focused on oxide gold ore, no interest in any other metals and ignored all previous non oxide gold mineralisation. The above statement is what I like about the projects. It is very hard these days to come across a story where it almost sounds too good to be true. Taking what I have been told at face value, this is a project that has hardly had any real work. It is believable that the previous owners just wanted cashflow. To achieve an assured cashflow model, one has to ignore everything else. Figure 2: The drilling distribution for the Golden Range and Fields Find projects. When you look at the amount of drilling (more than 30,000 drill holes) that has been done, you would be correct in thinking that this has been drilled like Swiss cheese (Figure 2). However, when you consider that the average depth of the drilling is only 42m, which is almost the average depth of weathering in the Eastern Goldfields, you are looking at almost virgin exploration territory. This is almost unheard of in 2023. These kinds of statements were thrown out with the bathwater almost twenty years ago. What's the catch? The main unknown for me, and that is just a lack of research on my part, is what was done before the last owners of the projects. We know that the previous owner did not drill deep, they did not look for anything else other than oxide gold ores, but what else did they do that could be a liability to the project? What I don't know is whether the previous owners of Golden Grove sterilised this patch of ground. That would be a bad thing if that was the case. However, this is a big patch of ground and it would be an enormous task for any company to sterilise an acreage of this magnitude. There is a strike of 70km (Figure 2) so it would be interesting to see if that would have been done back in the day. The other issue is that there could be too many targets due to the size of the project. You would want to have a very constrained strategy to focus on potential targets. If this place lights up with the geophysics, it would be a case of a child in a lolly shop. Which one do you go after? Having so many potential prizes, it would make interpretation difficult. It is one of those good problems to have with so many possibilities. Samso Conclusion This is an exciting company. All in all, I am eager to follow the Warriedar Resources journey. The company has a good cash balance as we speak, and Amanda has the right credentials to lead this type of exploration. Geophysics will play a big part and there is a lot of existing geochemistry to add to that strategy. The biggest asset I see is management. The people that lead this exploration need to understand the big picture and be commercial. The cost effectiveness of any exploration strategy is paramount. Who better to understand that than someone who has her own consultancy business? Undeniably, the projects will take centrestage. We have discussed the reasons why. A combination of good projects and solid management is all investors can ask for to safeguard their hard earned cash. Chapters: 00:00 Start 00:20 Introduction 01:20 Who is Amanda Buckingham and Warriedar Resources Limited (ASX: WA8)? 02:48 Historical shallow drilling at Golden Range. 05:32 Golden Range and Fields Find projects strategically positioned. 09:10 Adopting the mineral systems model to determine the province fertility. 14:27 “Swiss cheese” drilling? 15:20 Major structures that added to project confidence. 18:03 Would using only geophysics hinder the progress? 21:26 What is special about the Fields Find project? 27:02 How should investors take in information from the announcements? 31:12 The Warriedar Resources Limited Board. 36:23 News flow 38:26 Conclusion PODCAST This is a good time to download the first Ebook (FREE) from Samso as it is all about VMS (Volcanogenic Massive Sulfides). About Amanda Buckingham Managing Director Dr Buckingham is a geophysicist who has been involved in mineral exploration for over 25 years. She co-founded Fathom Geophysics in late 2007, an award winning and industry leading geophysical consulting group based in USA and Australia that has developed the world's best technology for targeting under cover. Dr Buckingham has extensive exploration experience globally. Her early career involved work as a geoscientist and project manager at majors such as Rio Tinto; as well as listed juniors in both Canada and Australia and several years consulting at SRK. Dr Buckingham co-founded Cygnus Gold Limited [ASX: CY5] and Desert Minerals Limited [ASX: DM1]. She is currently a director of several private companies, and a research fellow at the University of Western Australia. About Warriedar Resources Limited (ASX: WA8) Warriedar Resources Limited (ASX: WA8) is an advanced gold and copper exploration business with an existing resource base of approximately 2 Moz gold across Western Australia and Nevada, and a robust pipeline of high-calibre drill targets. Our focus is on rapidly building our resource inventory though modern, innovative exploration. We are well funded for our planned aggressive drilling programs through 2023. Golden Range and Fields Find Projects Our Golden Range and Fields Find Projects in Western Australia sit in the middle of the highly active Murchison exploration and mining province, which hosts substantial deposits of both gold and base metals. The world-class Golden Grove VMS camp sits just 3 km from our tenure boundary, with the host sequence for that cluster of deposits extending south onto our ground. We believe that the opportunity presented by applying modern geophysical and exploration techniques to our tenure is enormous. We are set to drill over 40,000 metres at Golden Range and Fields Find during 2023, targeting discovery of both gold and base metals mineralisation. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. About Samso Keep us informed too! Please let us know your thoughts and send us any comments to info@samso.com.au. Remember to Subscribe to our YouTube Channel, Samso Media and our mail list to stay informed and make comments where appropriate. Other than that, you can also give us a Review on Google.

Coffee with Samso Episode 170 is with Brett Hazelden, Managing Director and CEO of OD6 Metals Limited (ASX: OD6). The space in the Rare Earth sector is maturing fast and the understanding of the sector is highly sought after by investors and companies. Brett Hazelden is again, giving us a masterclass on all aspects of the Rare Earth Industry. The Story of OD6 Metals Limited (ASX: OD6) OD6 Metals is all about Rare Earths Elements (REE) in the southern region of Western Australia. It is located just north of the town of Esperance. As we were doing this Coffee with Samso, the market capitalisation of the company was around AUD26M and the share price was sitting around AUD 0.25. The company is focusing on both the Grass Patch and Splinter Rock project which have both undergone drilling campaigns defining potential resources. The most recent announcements have highlighted the recent activities at both projects. Figure 1: Project locations for OD6 Metals Limited. (source: OD6 Metals) The Word According To Brett Hazelden For those readers that have been following the Samso platform, you will know that the last two Coffee with Samso has been in this commodity space. The general specifications of the Rare Earth sector is fundamentally the same. We all know what the metals do and why they are important. As I have said many times, the key to the Clay Rare Earth sector is all about how to solve the downstream processing. The unlocking of this will open a floodgate of opportunities for both investors and companies. What are the Key Points of the Unlocking of the Downstream Process? One of the benefits of talking to so many industry leaders is that I am learning all the recent technologies and thinking processes. What the small cap industry excels in is the ability to think fast and nimble to get the story on track. In the world of Rare Earth, Clay Rare Earth deposits, there is such a thing as "Refractory" and "Free Leaching" deposits. When I heard that, I had a light bulb moment. My first thought was that companies with free leaching clay deposits will be first cap of the "unlocking" process. As everything is so new, this is one way of prioritising which company or what to look for in "stories". There are many other factors but I guess this is a great way to understand what companies have in respect to the geology and the potential of future deposits. Samso Conclusion There is nothing new for OD6 Metals Limited. The path forward is to generate tonnage and grade while they are looking for the answer to the processing part of the equation. The unknown part of the equation is not about the ability to extract the Rare Earths from the clays, as Brett mentioned. The question is what is the process to do this with best practice environmental process that will pass the test of time and the ESG signoff. The biggest asset that OD6 Metals (apart from the obvious) is that the adjacent assets owned by other companies in the region are also facing the same issue and have similar resources. The collective group is making this region a Rare Earth province. I have mentioned previously that my thoughts are that the government conversations indicate to me, that there is a potential of creating a Rare Earth downstream industry in Australia. The current political rhetoric with the rising China Cold War stance may indeed force the Australian government to react and this would be a great occasion for all those involved in the Southern Region of Western Australia. Chapters: 00:00 Start 00:20 Introduction 01:13 Who is OD6? 01:54 How has the Airborne Electromagnetic Survey (AEM) worked for OD6. 03:40 OD6 is more about Size than Depth. 04:36 How has your understanding changed? 07:41 Differences between Grass Patch and Splinter Rock. 10:50 Differentiating Refractory styles to Free Leaching Styles of the REE Clays. 14:25 Are the Chinese more Clay or Ionic styles? 19:00 Can Ionic clay be a major commodity industry? 20:23 How much has the rare earth market changed? 22:15 How does the rare earth market situation translate to the equity market? 23:45 Why OD6? 26:39 Current market 27:53 Conclusion PODCAST This is a good time to download the first Ebook (FREE) from Samso as it is all about VMS (Volcanogenic Massive Sulfides). About Brett Hazelden Managing Director & Chief Executive Officer BSc, MBA, AICD Mr Hazelden is a Metallurgist who brings over 25 years’ experience serving the Australasian resources industry. His experience includes being a Company Director, Managing Director, CEO, Project Manager, Study Manager and originally a Metallurgist in an operating environment. Mr Hazelden brings a diverse range of capabilities from exploration, project development studies, research and development, project approvals, offtake agreements, equity raising, debt financing plus mergers and acquisitions. He has worked across multiple commodities including potash, gold, copper, zinc, lead, iron ore, tungsten, salt, diamond and now rare earth sectors. Most recently, Brett was the Co-founder and Managing Director/CEO of Kalium Lakes (ASX:KLL). Mr Hazelden was appointed as a Director on 1 April 2022. Mr Hazelden is not considered to be an independent Director as he is engaged in an executive capacity. About OD6 Metals Limited (ASX: OD6) OD6 Metals is an Australian public company with a purpose to pursue exploration and development opportunities within the resources sector. The Company holds a 100% interest in the Splinter Rock Project and Grass Patch Project which are located in the Goldfields-Esperance region of Western Australia, about 30 to 150km north of the major port and town of Esperance. The projects are considered prospective for clay rare earth elements (REEs), with the Company’s aim of delineating and defining economic resources and reserves to develop into a future revenue generating operational mine. Clay REE deposits are currently economically extracted in China who is the dominant world producer. Rare earth elements (in particular, Nd and Pr), are becoming increasingly important in the global economy, with uses including advanced electronics, permanent magnets in electric motors and electricity generators (such as wind turbines) and consumer electronics. Why OD6 Metals? Emerging REE major new clay province in WA, potentially competitive with China’s deposits. Dominant land position with over 4,800 km2 Located close to Esperance port, sealed roads and renewable energy infrastructure. Extensive Clay REE in 10 to 37m thick blanket over very large areas . Wide intersections of TREO with excellent Nd-Pr concentrations of 20% Multiple targets for potentially globally significant REE resources. Excellent regional metallurgy. Clay REE’S are typically low capital intensity and high margin product. Significant supply shortage forecast due to rapid demand increase for renewable power, electric vehicles and electronics. Critical metals being prioritised by Governments around the world (need for diversity of supply away from China). Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. About Samso Keep us informed too! Please let us know your thoughts and send us any comments to info@samso.com.au. Remember to Subscribe to our YouTube Channel, Samso Media and our mail list to stay informed and make comments where appropriate. Other than that, you can also give us a Review on Google.

The Esperance region is fast developing into a Rare Earth Region and Episode 69 is with Guy Le Page, Non-Executive Director of Mount Ridley Mines Limited (ASX: MRD) The Mount Ridley Story is all about clay hosted Rare Earth Elements (REE) deposits. The biggest question for all the clay REE projects relates to the timing of the unlocking of the metallurgical conundrum. It is not a big secret that there is a hurdle for these companies but whether it is a matter of time or market, that will be food for thought for investors. The Mount Ridley Story The clay hosted REE deposits that Mount Ridley has are located within a Fraser Range sub-basin, which is just 50km north of Esperance. Interestingly, it was initially acquired for its nickel and copper sulphides potential. Figure 1: The Mount Ridley REE Project comprises 9 granted exploration licences in south-west Western Australia with an area of approximately 3,400 square kilometers. (Source: MRD Announcement, 14th February 2023). Mount Ridley is one of many companies that is applying their trade in the Esperance region. Hence, the MRD story is with good company. Figure 2: The Mount Ridley REE Project is well positioned with similar projects which have been proven to be mineralised and have known resources. (Source: MRD Presentation, December 2022). The Company also holds approximately 18% of the Weld Ranges in the mid-west of Western Australia. Areas of the tenements are prospective iron and gold. Rooster Talk Episode 69 Chapters 00:00 Start 00:20 Introduction 00:52 Update on the Mount Ridley Story. 02:05 Mount Ridley Tenement Holdings. 02:42 Any update on the REE sector? 03:25 Is the recent Molybdenum price surge a sign of things to come for commodities? 04:13 Are we looking at a change in sensitivities with supply crunch and price volatility? 05:06 Apparent pricing volatility. 06:11 Upcoming news for Mount Ridley. 07:17 Why buy Mount Ridley? 08:41 Conclusion PODCAST The Sensitivity of Supply Deficit and Price Volatility. In this episode of Rooster Talk, one of the topics that was discussed was the current observation about the supply crunch. This is an interesting topic as the supply crunch of metals have been talked about for nearly 8 years. I remember writing about this topic in 2019 (see below) and the crunch sort of never came. Samso Insights: Zinc Market- What happened to the price surge? - January 19, 2019 Is the Commodity Market just getting used to a slowing Chinese Panda ? - June 10, 2019 Is the Commodities Shortage a Mirage? - June 18, 2019 Shortages in Metals - March 14, 2020 The Mystical Journey of the Commodity Price - Will it Continue? - June 18, 2021 One of the most compelling crunch that never eventuated and still has not, has been the Zinc story. Nickel and Copper kind of came of late but that is still a wait-and-see game. The point is that in the previous narratives, the hype never came to pass. The last six months have shown that this may finally be happening... or is it? There was the nickel push and then there was the copper run recently. Uranium may be starting to lead, or may lead showing some signs of leading the pack. As Guy Le Page mentions in today's Rooster Talk, the surge in buying by the Sprott Uranium Fund may have created a catalyst for commentators to feed on. Why are we talking about this topic? Well, the price of Molybdenum ran spectacularly in January 2023 and observers commented that this is due to China restarting production and the closure of mines in Peru. Figure 3: The price chart of Molybdenum (Source: Trading Economics, 2023). Hence, if this is the case, a nearly 95% jump in price would make any punter wake up. A surge like that because of a mine closure and of increasing production in China? On the REE front, according to Strategic Metals Invest (www.strategicmetalsinvest.com), since January 2020, Dysprosium has increased by up to 78.25%, Neodymium 226% and Praseodymium 169.20% Samso's Conclusion The clay hosted REE journey is one that is intriguing and poses a lot of questions for potential investors. When will the unlocking of the Holy Grail happen? Will there be a market when that happens? Will the technology using these metals still be around? Well, in my humble opinion, having lived many decades in the wonderful world of ours, I think this is our time in seeing a pivoting of industries. The world of electrification is here to stay and the world of efficiency in creating cleaner energy has been set in stone. Although Rare Earths are not rare, the concentration of the resources and the application to downstream products are rare. The shift of dependence on one "nation" to produce products seems to be taking a back seat. The Esperance region is ideal for a new industry to emerge. It has all the important logistics like a port and a low density of population. It has the space to grow in size. The good thing for companies like MRD is that the resource is almost a certainty. They have many players who, as a whole, will be able to play with the big boys. The unlocking of the metallurgical question will be exciting times for all involved. What investors need is to be patient, but this seems to be the biggest Achilles heel. About Guy Le Page Non-Executive Director B.A., BSc (Hons), MBA, MAusIMM, FFIN Mr Le Page is currently a Director & Corporate Adviser of RM Corporate Finance specialising in resources. He is actively involved in a range of corporate initiatives from mergers and acquisitions, initial public offerings to valuations, consulting and corporate advisory roles. Mr Le Page was Head of Research at Morgan Stockbroking Limited (Perth) prior to joining Tolhurst Noall as a Corporate Advisor in July of 1998. As Head of Research, Mr Le Page was responsible for the supervision of all Industrial and Resources Research. As a Resources Analyst, Mr Le Page published detailed research on various mineral exploration and mining companies listed on the Australian Securities Exchange. The majority of this research involved valuations of both exploration and production assets. Prior to entering the stockbroking industry, he spent 10 years as an exploration and mining geologist in Australia, Canada and the United States. His experience spans gold and base metal exploration and mining geology, and he has acted as a consultant to private and public companies. This professional experience included the production of both technical and valuation reports for resource companies. Mr Le Page holds a Bachelor of Arts, a Bachelor of Science and a Masters’ Degree in Business Administration from the University of Adelaide, a Bachelor of Applied Science (Hons) from the Curtin University of Technology and a Graduate Diploma in Applied Finance and Investment from the Securities Institute of Australia. About Mount Ridley Mines Limited (ASX:MRD) Mount Ridley Mines Limited is undertaking the exploration of a significant deposit of valuable clay-hosted rare earth elements in Western Australia. The Project was initially acquired for its nickel and copper sulphides potential and is now recognised as being prospective for ionic clay REE deposits. Currently, this style of deposit is mined and processed only in China and Myanmar. In November 2020 Mount Ridley Mines Limited (“MRD”) commenced a review of data for its namesake Mount Ridley Project and surrounding area. The review concluded that areas of the Biranup and Nornalup geological provinces in south-eastern Western Australia have the potential for REE mineralisation, and in particular, the style of mineralisation referred to as Ionic Adsorption Clay (IAC-REE). Globally, deposits of IAC-REE are most significant in southern China and are the world’s main source of heavy Rare Earth Elements. The Project REE mineralisation occurs as large, horizontal, near surface, sheet-like lenses up to a depth of 89 metres. REE mineralisation is interpreted to be present within the in-situ saprolite clay horizon. Patchy lower grade zones occur within transported cover which may vector towards stronger REE mineralisation deeper within the regolith. Geological Survey of Western Australia (DMIRS) mapping [1] shows that the Mount Ridley Project REE mineralisation occurs within the weathered mantle (regolith) of the Recherche Super-suite, which is described as “granitic and mafic gneiss; may include intrusions of Esperance Super-suite”. While the source of the REE mineralisation is currently unknown, a detailed sample and litho-geochemistry dataset from bottom of hole aircore samples have been established which includes whole-rock chemical analyses, sample pulps and some end-of-hole air core samples. These samples and data are being studied by the Company’s consultant geochemist to identify the primary rock-type and whether units are REE-enriched. Re-assay of 950 air core samples (162 pending) returned significant REE values over an apparent strike in excess of 25 km with over 20 samples returning >1,000 ppm Mineralisation remains open in all directions with a peak value so far at the Keith’s Prospect from MRAC0711 with 10,461ppm (1.05%) from 23m downhole. Significant REE intersections have been identified and grouped into 5 prospects – Winston’s, Keith’s, The Lake, Tyrell’s and Marcellus. Planning underway for a 25,000m aircore program to test newly acquired tenements in addition to step-out and infill holes. [1] (DMIRS) Department of Mines, Industry Regulation and Safety 1:100,000 Interpreted Bedrock Geology Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. About Samso Keep us informed too! Please let us know your thoughts and send us any comments to info@samso.com.au. Remember to Subscribe to our YouTube Channel, Samso Media and our mail list to stay informed and make comments where appropriate. Other than that, you can also give us a Review on Google. Samso-Brilliant Distribution Outreach Powerful Advertising opportunities for Samso’s ASX and private business clients. The Brilliant-Online partnership is an opportunity to reach new and wider audiences in a fresh, appealing format to pique and retain investor interest. Contact Veronica directly for your special Samso-Brilliant advertising rate. Read Brilliant Investments

Coffee with Samso Episode 169 with Ed Mead, Technical Director of White Cliff Minerals Limited (ASX:WCN) Jump straight to the White Cliff Story The Rare Earth Story is all about Neodymium and Praseodymium. While the search for these two elements do make the REE sector buoyant, one also wonders what the fuss is all about. How the current demand in the REE sector evolved. The junior explorers are all talking REE and one can be forgiven for thinking that this is becoming a never-ending story. Samso has seen many different stories on the Coffee with Samso platform and other platforms over the last two years. In my opinion, the REE story is one that is more about being strategic than anything else. When COVID came along and then China started to flex its muscles, that created the awakening of nationalism. Prior to that event, there was no doubt that the global industries were happy with sharing work i.e. Globalisation. The REE sector was and still is a sector that is dominated by China. They have a lot of it and they make the products that use these metals. It is becoming increasingly clear now that this dominance is not going well. The emergence of China being the next "Power Brothers" may have awakened the world into thinking that this is not a good idea. I remember doing some Rooster Talks with people at the early stage of the pandemic and we mentioned the probability that the world could find alternative markets. Looking at it now two years on, this appears to be playing itself out. REE is in Demand The demand of REE is really about the permanent magnets. There is no need to explain the technical information as I am sure that is all over Google. What I feel is in play, especially in Western Australia, is the geological advantage of having a lot of these metals and in the right jurisdiction. On top of that, I do feel that there is a strong possibility that an industry could be created in Australia for Australians. Looking at the flow of business in the Lithium sector with the building of the Tianqi Lithium Hydroxide plant in Kwinana, there is optimism that a downstream industry could be created that will supplement the mining of lithium and the REEs. This may lead to other metals but that may be a longer term dream. Governments are now working with industry and are doing more proactive talking. A few years ago, the most they did was proactive listening. Today, there is sentiment of government actions that are giving companies time to express their wishes. The White Cliff Story White Cliff Minerals is one of the many small cap hopefuls that are applying their trade to make a discovery. The company has two main projects, the Yinnetharra (Figure 1) and Hines Hill (Figure 2) project. In this episode of Coffee with Samso, Ed shares with us what is strategic about the Hines Hill and the Yinnetharra projects. At the Yinnetharra project, their recent rock chip sample (3,912 ppm TREO with 26% MREO) is clearly indicating mineralisation. It may only be a rock chip but that is a great indication that there is a cooking mechanism in place. You do not need to look very far to realise that this region is now known for REE mineralisation. Yinnetharra Project The Yinnetharra Li/REE project consists of two tenement applications, E09/2628 and E09/2641 (Figure 2), within the Gascoyne lithium region, located about 100km northeast of Gascoyne Junction and 85km south of Hastings Rare Earths (ASX:HAS) world-class Yangibana rare earths project. Figure 1: White Cliff Minerals Limited Yinnetharra project tenement location. The Yinnetharra project is in a very hotly contested region of the Gascoyne Province where you have Hastings Technology Metals Limited (ASX: HAS) (Figure 3) building a plant to support their REE resource. Figure 3: Map showing location of Yangibana deposits and planned site infrastructure. (Source Hasting Website: December 22022 Quarterly Activities Report) Hines Hill Project The Hines Hill REE project consists of one tenement granted tenement (E70/5875) within the Yilgarn region, located 20km west of Merredin and along the Great Eastern Highway. The project area is underlain by granites of the Yilgarn craton, with multiple SW/NE trending dykes transecting the license. The project area contains two large aeromagnetic anomalies which may be indicative of carbonatite intrusives. In addition, sampling by the GSWA in the Yilgarn craton defined a strong REE anomaly in the vicinity of the aeromagnetic anomalies. It is therefore believed that the project area may host previously unknown carbonatite intrusives with REE mineralisation potential. Figure 4: Hines Hill project. What I like about White Cliff is the location and the understanding that logistics, the ability to exit, is clear. The two projects are greenfield but they are located geologically where they have not been walked over. The early signs from drilling and rock chip sampling have been encouraging. As many people who have followed me know, I am a fan of mineral exploration. The White Cliff story is a great example of having the ability to develop its own story. The Gascoyne province was largely unknown with some gold and base metal exploration in the past. Today, it is a hype of activity for Rare Earths. There have been some significant discoveries recently so the proof of mineralisation is now completed. White Cliff will take a while to develop its story but that is mineral exploration. It has a low market capitalisation and that will keep the punters happy. Figure 5: White Cliff Minerals price chart. (Source: Commsec) Samso's Conclusion As the general market has come back over the last six months, I think this is a great time to have a close look at stories like White Cliff. I know that there have been many other stories but I know the management. What investors need to understand is that as a shareholder, it is all about the story and management. From the investing point of view, I like the projects and the potential it may bring. The REE sector is hard and as Ed mentioned, it is all about the unlocking of the flow sheet. When the downstream process is able to be developed, I firmly believe that there will be a shift in controls of the REE market. The world needs efficiency in less emission technologies and the components of the REE sector is the main player. As I always say, we are in the transition of a global industrial shift. There are more advanced projects to look at and I am by no means saying that the White Cliff story is the only one. The placement of your investment faith will be really about your risk appetite and your patience. PODCAST Chapters: 00:00 Start 00:20 Introduction 01:23 Edward Mead 02:25 About the recent announcement 05:23 Why was the Yinnietharra area overlooked? 09:43 How should investors position for the REE Sector? 14:54 Hines Hill 16:54 What are the upsides for Hines Hill? 19:20 Can the rare earths conversation be sustained? 22:42 View on the market for 2023 27:20 News flow 29:07 Why White Cliff Minerals? 29:49 Conclusion About Edward Mead Technical Director White Cliff Minerals Limited Mr. Edward (Ed) Mead is a geologist with over 20 years of experience in gold and base metals exploration, mine development and mine production. Ed has also worked in the oil and gas industry on offshore drilling platforms. Other commodities that he has significant experience with and can be considered to be a competent person in are iron ore, magnetite, coal, manganese, lithium, potash and uranium. Geological areas in Western Australia that he has worked in include: the West Pilbara for base metals and gold; the East Pilbara for manganese and gold; the Yilgarn for gold; the Kimberley for base metals, gold and uranium; and the Murchison for base metals, uranium and gold. He has a BSc in geology from Canterbury University in New Zealand and is a member of the Australian Institute of Mining and Metallurgy. About White Cliff Minerals Limited White Cliff Minerals Limited is a mineral exploration company trading on the Australian Securities Exchange under the ticker code WCN. The Company is currently focusing its exploration on the Reedy South Gold Project near the Cue mining centre in Western Australia, and is pursuing a dual strategy to advance its prospective gold and nickel-cobalt projects in Western Australia. Disclaimer The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer. Your Bonus Samso has just released an eBook: How to Add Value to your Share Portfolio A lesson on geological models sought by mining companies that gives insight and an understanding of which portfolios are better - and potentially more lucrative – investments. Click here to download this eBook. If you find this article informative and useful, please help me share the information.  I try and write about topics that are interesting and have the potential to be of investment value.  It is not easy to find stories that fit those parameters. If you or your organisation see the benefit of what Samso is trying to achieve and have a need to share your journey, please contact me on noel.ong@samso.com.au. About Samso