ASX ANNOUNCEMENT

Date: 8th March 2022

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OUTSTANDING SOIL GEOCHEMISTRY RESULTS FOR

BATTERY AND STRATEGIC METALS AT THE

JUMBO JV PROJECT, WA

• High priority targets for nickel-copper-Platinum Group Elements (PGM) (3), lithium-

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caesium-tantalum (LCT) pegmatites (3), Rare Earth Metals (REE) and extensive areas of

anomalous rubidium have been identified at the Jumbo joint venture project where Impact

is earning an 80% interest.

• Soil anomalies for all metal groups occur over significant areas of at least several hundred

metres along the limited reconnaissance soil geochemistry traverses. Further anomalies are

expected with more comprehensive coverage of the project area.

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• Very high success rate of anomaly identification targets validates Impact's targeting

methodology working in conjunction with its joint venture partner.

• The Jumbo project is extremely poorly explored and there has been no drilling.

• Jumbo is adjacent to, and west of, Impact's 100% owned Arkun project where significant

anomalies for the same battery and strategic metals have been identified. The combined

projects cover 2,260 sq km of the emerging mineral province of SW Western Australia.

• Follow-up work including field checking and rock chip sampling will commence next

Quarter in concert with on-ground work at Arkun, where Land Access Negotiations are

underway.

Further significant high priority targets for a wide range of battery and strategic metals have been identified in new soil geochemistry results from Impact Minerals Limited's (ASX:IPT) Jumbo joint venture project and adjacent to the company's 100% owned Arkun project in the emerging mineral province of south west Western Australia (Figure 1).

Impact Minerals' Managing Director Dr Mike Jones said "These soil results further confirm to us that Impact has secured a large and very prospective part of the emerging mineral province of south west

ForWestern Australia which already contains the recent Julimar Ni-Cu-PGM discovery and the Greenbushes lithium-tantalum mine, both world-class deposits. The region is clearly vastly under-explored and has great potential for the discovery of deposits covering a wide range of battery and strategic metals. We are particularly excited about the elevated Rare Earth Element and rubidium anomalies, given the recent positive price action in these markets.

Together with our Arkun project, these new targets at Jumbo, which were generated in conjunction with our joint venture partner, continue to exceed our expectations and there is a considerable amount of follow up work to be completed across the combined area. I am confident that this work will generate a significant number of drill targets for testing later this year and in to 2023" Dr Jones said.

26 Richardson Street West Perth Western Australia 6005

Tel +61 (8) 6454 6666 Facsimile +61 (8) 6454 6667

Emailinfo@impactminerals.com.auwww.impactminerals.com.au

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Figure 1. Location and Regional Geology of the Jumbo and Arkun Projects and showing key nickel-copper-

PGE deposits and recent discoveries.

The soil geochemistry survey at Jumbo was limited to one major access road across the project area and samples were taken mostly at about 100 metre spacings at the side of the road over a distance of about 30 kilometres (Figures 2 - 5). This length of traverse has allowed samples to be taken in areas of "background" in order to establish the relative anomalism of the various metals in the target above background.

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Figure 2. Additive Z scores for Ni-Cu-Pd-Pt-Au across the Jumbo-Arkun project area. Nine priority areas for follow-up work are highlighted including three new ones at Jumbo. Other areas of elevated response are also evident including the Beau target to the north.

Figure 3. Additive Z scores for Li-Cs-Ta across the Jumbo-Arkun project area. Eight priority areas for follow up work are highlighted including two new areas at Jumbo. Other areas of elevated response are also evident throughout the project area which will also require follow-up work.

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Figure 4. Additive Z scores for all REE across the Jumbo-Arkun project area. Seven priority areas for follow up work are highlighted including three new areas at Jumbo. Note that there several other areas with strong responses within the Jumbo project which will also require follow-up work.

Figure 5. Rubidium assay values across the Jumbo-Arkun project area. The Jumbo project stands out as a very elevated area for rubidium compared to most of the Arkun project. This may reflect a higher background for rubidium in this area and therefore may be more prospective for this valuable alkali metal.

onlyThe traverse was designed to get as close as possible to geophysical anomalies identified by Impact's joint venture partner.

SOIL GEOCHEMISTRY RESULTS

The results of the soil geochemistry survey (combined with the Arkun soil results) are presented as additive Z scores in Figures 2 to 5 and are reasonably self-explanatory. The priority targets are also shown on an image of regional magnetic data in Figure 6. Maximum and minimum values for each of

usethe relevant metals for Jumbo are given for reference in Table 1.

For further details on the Arkun soil geochemistry results refer to Impact's ASX Releases 21st September 2021 and 27th October 2021.

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Figure 6. Priority targets for battery and strategic metals at Arkun and Jumbo shown on an image of regional

magnetic data. Warmer colours represent more magnetic units.

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Impact Minerals Limited published this content on 07 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 March 2022 22:50:02 UTC.