25M THICK PEGMATITE AT MT DEANS LITHIUM PROJECT

• First-phase drilling at Mt Deans defines a thick vertical pegmatite with lithium grades up to 1.14% Li 2 O and high-grade rubidium, including;

o 1m @ 1.14% Li 2 O at 36m in hole MDRC6 within a wider zone of

o 10m @ 0.62% Li 2 O and 0.57% Rb 2 O from 22m and

o 7m @ 0.76% Li 2 O and 0.69% Rb 2 O from 31m and

o 3m @ 0.96% Li 2 O and 0.83% Rb 2 O from 34m

• Drilling has defined an interpreted strike of at least 1,500m, open at both ends

• Pegmatites intersected in every hole to date with 13 intersections grading >0.5% Li 2 O

• Rubidium grades up to 1.05% Rb 2 O returned - has potential to add significant value to the Project

• Rubidium is a high-value metal typically found in hard rock pegmatites, and used in solar panels, fibre optic cables, GPS systems and sodium-ion batteries

• Remaining 1,800m - 12 holes to be completed as a priority

Aruma Resources Limited (ASX: AAJ) ( Aruma or the Company ) is pleased to announce results from its first phase of drilling at the Company's maiden drilling program at the Mt Deans Lithium Project in the lithium corridor of south-eastern Western Australia.

A total of 1,156 metres of reverse circulation (RC) drilling in eight holes was completed in the first phase of the maiden drilling program, which has delivered highly positive results including high-grade rubidium.

Drilling intersected high-grade lithium of up to 1.14% Li 2 O (lithium oxide) within a wide zone of lithium, all within a near-surface 25 metre thick, vertical body of solid pegmatite, from a depth of just 17 metres. Results include;

• 1m @ 1.14% Li 2 O at 36m in hole MDRC6 within a wider zone of

• 10m @ 0.62% Li 2 O and 0.57% Rb 2 O from 22m and

• 7m @ 0.76% Li 2 O and 0.69% Rb 2 O from 31m and

• 3m @ 0.96% Li 2 O and 0.83% Rb 2 O from 34m

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The first phase of drilling has defined an interpreted strike length of at least 1,500 metres, which remains open at both ends (Figure 2).

Drilling targeted the priority Mt Deans 'main section' and has defined a thick vertical pegmatite, with pegmatite intersected in every hole. The program returned more than a dozen intersections grading higher than 0.5% Li 2 O from the eight holes drilled to date, and also returned high-grade rubidium, grading up to 1.05% Rb 2 O (Rubidium Oxide), with elevated tin, tantalum and cesium.

Based on the results from the first round of drilling at Mt Deans, Aruma will make immediate plans to complete the remaining 1,800 metres across 12 holes of this maiden drilling program.

Aruma Managing Director Peter Schwann stated:

" The first phase of drilling at Mt Deans has delivered highly encouraging and positive results, returning strong lithium and rubidium grades in numerous intersections, some with significant widths. This represents just the start of exploration at Mt Deans, and based on these results, we will move quickly to undertake the remaining approximately 1,800 metres of the maiden drilling campaign. The Mt Dean pegmatite is showing zonation with lithium grades up to 1.14% Li 2 O, and rubidium assays up to 1.05% which is high-grade, and our future work will target Mt Deans as a multi metal asset."

Figure 1: Mt Deans Cross Section interpreted pegmatite with Li 2 O results

Rubidium is a high-value technology metal typically found in hard rock pegmatites. The current price of Rubidium Carbonate, the most widely used form of rubidium, is $1,059.65/kg. It has multiple uses and applications, including in solar panels, fibre optic cables, GPS systems and night vision equipment, as well as sodium-ion batteries.

The rubidium results exhibit a strong relationship with the lithium assay results from the drilling at Mt Deans and has the potential to add significant value to the Project, and will become a core focus, in parallel with lithium, in future exploration at Mt Deans.

Figure 2: Mt Deans Project and drill hole location plan, immediately adjacent to the Esperance Highway and rail link

Table 1: Mt Deans assay results >0.5% Li2O

Background to Mt Deans Drilling Program

Aruma commenced its maiden drilling program at the Mt Deans Project (P63/2063) in February (ASX announcement, 8 February 2022), and has completed the first phase of the program. Drilling is planned to comprise approximately 3,000m of RC drilling to a depth of up to 200m (in pegmatite), with holes spaced approximately 50m apart.

The initial phase of the program has targeted the Mt Deans main section (6,427,120mN), and comprised 1,156m of RC drilling in eight holes. Results are reported in this announcement.

Drilling has defined a thick vertical pegmatite with varying lithium-rubidium grades which will be further assessed in the second part of the maiden drilling program, to be conducted as soon as drill rig availability is confirmed.

This drilling will look at the variations in grade and thickness of the pegmatite over the Project's full 1,500m strike. Aruma plans to utilise the results of the first phase of drilling and sampling to assist with refining drill targets to deliver the best outcomes.

The program is being undertaken by a track-mounted, fully self-contained RC Rig, requiring minimal site preparation which will help ensure the smallest disturbed footprint around the drill target areas.

About the Mt Deans Lithium Project

Aruma has confirmed the Mt Deans Project as being highly prospective for lithium minerals, as well as rubidium, tin, tantalum and rare earth element (REE) minerals. It is situated in the Mt Deans pegmatite field, within the Eastern Goldfields Terrane of the Yilgarn Craton, approximately 170 kilometres south of the major regional centre of Kalgoorlie, and approximately 10 kilometres south of the mining town of Norseman (Figure 3).

The Project sits within the lithium corridor in south-east WA, which hosts multiple significant hard-rock lithium projects. It is interpreted to sit within the same host rocks and structures as the significant nearby Mt Marion, Bald Hill and Buldania Lithium Projects.

Previous exploration has identified swarm pegmatites over a strike length of 1,500m. High-grade rock chip samples have previously been reported from the Project area, with lithium oxide results as high as 2.1% Li 2 O, and tantalum (Ta) as high as 556 ppm Ta 2 O 5 (tantalum pentoxide) plus other rare earth elements (ASX announcement, 24 March 2021).

Figure 3: Mt Deans Project location in the Eastern Goldfields Lithium corridor

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Aruma Resources Limited published this content on 21 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 April 2022 01:54:08 UTC.