Kalamazoo Resources : Lithium-Mineralised Pegmatites Discovered at Marble Bar

ASX Announcement

12 April 2022

Multiple Lithium Mineralised Pegmatites Discovered and Exploration Tenure Increased at Marble Bar Lithium Project

Highlights

• • Initial field reconnaissance of the significant portable XRF ("pXRF") soil anomalies recently reported at E45/4700 ("Marble Bar Lithium Project") has discovered numerous outcrops of pegmatite dykes

• • Multiple pegmatite dykes coincident with these anomalies contain visible lithium mineralisation in the form of lepidolite (lithium mica)

• • Kalamazoo's Pilbara lithium exploration ground holding has been further expanded to 354.4km2 with the grant of two new exploration licences considered highly prospective for pegmatite-hosted lithium-caesium-tantalum mineralisation

• • Kalamazoo has been granted E45/5970 adding to its Marble Bar Lithium Project and E45/5943 at the DOM's Hill Lithium Project, both of which form part of the recently announced exploration Joint Venture ("Joint Venture") with Chilean lithium producer Sociedad Química y Minera de Chile S.A. ("SQM") (NYSE: SQM)

• • Both new tenements will be the subject of an initial detailed 200m x 100m grid soil sampling program scheduled to be completed by early May 2022

• • At both the Marble Bar and DOM's Hill Lithium Projects, requisite Government permitting and cultural heritage surveys are well advanced with drilling programs scheduled to commence late in the June quarter 2022

Kalamazoo's Chairman and CEO Luke Reinehr said today, "We are pleased with our initial fieldwork at Marble Bar which has confirmed multiple pegmatite dykes containing visible lithium mineralisation across the recently identified pXRF soil anomalies. We now consider the likelihood for LCT pegmatite mineralisation in the immediate area is very high, which is supported by Global Lithium's nearby Archer deposit (10.5Mt @ 1.0% Li20) to the north.

The grant of two additional tenements at Marble Bar and DOM's Hill further expands our lithium exploration tenure in the immediate area, which is now subject to extensive exploration activity in conjunction with our JV exploration partner SQM. Our focus is to now progress both areas quickly towards upcoming drill programs."

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Kalamazoo Resources Limited (ASX: KZR) ("Kalamazoo" or the "Company") is pleased to provide the following update on early-stage field reconnaissance activities at its Marble Bar Lithium Project, as well as providing details of two new recently granted Pilbara lithium exploration licences.

The two new highly prospective exploration licences add to Kalamazoo's already significant Pilbara lithium exploration tenure ground holding which now totals 354.4km2 (Figure 1).

Specifically, the newly granted E45/5970 and E45/5943 expand Kalamazoo's Marble Bar and DOM's Hill Lithium Projects respectively, both of which form part of the recently announced exploration Joint Venture ("Joint Venture") with Chilean lithium producer SQM. These new exploration licences are considered highly prospective for pegmatite-hosted lithium-caesium-tantalum ("LCT") mineralisation.

In addition, Kalamazoo recently acquired the Pear Creek Lithium Project (E45/3856, E45/4616 and E45/5813) in the East Pilbara region, WA1. This project covers ~147km2 of highly prospective lithium and gold geology located between Kalamazoo's existing DOM's Hill and Marble Bar Lithium Projects (Figure 1). The Pear Creek project area is 100% owned by Kalamazoo and is not currently included within the SQM JV Agreement.

Figure 1: Location of Kalamazoo's DOM's Hill, Pear Creek, and Marble Bar Projects (~354km2) with respect to the Pilgangoora and Wodgina lithium mines and the Archer lithium deposit on a background WA regional-scale aeromagnetic image2. The interpreted "Goldilocks Zone" is defined as a 4km wide zone located along the Archaean granite-greenstone contact area.

Marble Bar Lithium Project (E45/4700 and E45/5970)

The Marble Bar Lithium Project (~76.6km2) is considered highly prospective for lithium mineralisation due to its favourable proximity to the Moolyella Monzogranite (inferred LCT-pegmatite source), its location along the margin of the Moolyella tin and tantalum alluvial field plus numerous local occurrences of mapped lithium-enriched pegmatites.

• 1 ASX: KZR 14 December 2021

• 2 Refer to the Western Australian Department of Mines, Industry Regulation and Safety website: Lithium in Western Australia poster - June 2021

Although Kalamazoo's Marble Bar Lithium Project has not been the subject of any modern systematic exploration for lithium, Global Lithium Resources Limited (ASX: GL1) has reported a maiden Inferred Resource of 10.5Mt @ 1.0% Li20 for the nearby Archer deposit, also on the margin of the Moolyella tin and tantalum field, approximately 25km to the north (Figure 2). Global Lithium also recently announced that the Archer deposit is now subject to a 60,000m RC drilling program, further highlighting the significant lithium prospectivity in the immediate region3.

In February 2022, Kalamazoo reported highly encouraging pXRF soil geochemistry anomalies from its initial Marble Bar Project wide soil sampling program which was completed in late 2021 (3,706 samples)4.

The initial analysis of these soil samples utilised a pXRF unit involving a specialised "Li Index" function, developed by Portable Spectral Services Pty Ltd. The pXRF Li Index provides a proxy for lithium content via a correlation with a suite of five elements (Rb, Nb, Ta, Ga, and Cs) that are resolvable by pXRF and calibrated against certified reference materials. The results of the pXRF Li Index analyses identified several highly prospective soil anomalies possibly related to potential LCT pegmatite mineralisation (Figure 3).

Kalamazoo recently commenced field mapping and rock chip sampling activities aimed at verifying these pXRF soil anomalies and identifying prospective pegmatite dykes for reconnaissance exploration drill testing. To date, numerous outcrops of pegmatite dykes have been found coincident with the soil geochemistry anomalies, some of which contain visible amounts of lepidolite (lithium mica) (Figure 3). Lepidolite is a common accessory mineral found associated with many lithium deposits and its presence demonstrates that favourable lithium enrichment processes have occurred in the area.

Figure 4 shows an example of one of the lepidolite-bearing pegmatite outcrops that was recorded and sampled during field reconnaissance of the largest pXRF anomaly defined in E45/4700 (see Figure 3 for location).

Kalamazoo is very encouraged by these early-stage results and these soil anomalies and pegmatite dykes continue to be the subject of ongoing mapping and rock chip sampling exercises (rock chip assay results pending). The goal of these field exploration activities is to identify high priority targets for drill testing in Q2/Q3 2022.

It should be noted that some of the exploration information in this announcement is based only on visual field observations. Assay results for the rock chip samples collected from the outcropping pegmatites reported in this announcement are yet to be received. The Company has not yet confirmed whether lithium mineralisation is present, given that this can only be determined through laboratory analysis.

• 3 ASX: GL1 7 February 2022

• 4 ASX: KZR 28 February 2022

Figure 2: Location of E45/4700 and E45/5970 on the southern margin of the Moolyella alluvial tin and tantalum field on a background GSWA East Pilbara 1:250k Interpreted Bedrock Geology Map Sheet. Note that Kalamazoo has gold rights only in respect to E45/4724.

Figure 4

Figure 3: Project-wide 200m x 100m soil sampling grid with pXRF Li Index analysis results on background Google Earth Image. Note the reported pegmatite locations (stars) are from reconnaissance mapping completed by previous explorers and Kalamazoo. Pegmatites denoted as mineralised have been identified from either visual observation of contained

lithium minerals and/or rock chip assays.

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