Mila Resources Plc updated shareholders on progress with Liontown Resources Limited regarding its arrangements to enter into a joint venture. The Company and Liontown have held a number of meetings to establish a critical path towards commencing lithium exploration at Kathleen Valley. Due to a scarcity of water within the region and as part of the preliminary work programme, Liontown will sink a number of drill holes to test for water imminently.

This is with a view to securing future water supply for its upcoming mining operations at its significant Kathleen Valley Lithium Mine, due to commence production in mid-2024. Liontown has identified several lithium targets in the northern and central areas of the Project, which coincide with the gold target areas previously identified by Mila. Mila and Liontown are working jointly on conducting Heritage Surveys across these areas.

Under the JV, Mila will be able to access and conduct gold and base metal test work from the drilling core provided by Liontown drill programme. The board of Mila expects that this will significantly reduce the overall cost and timeframe of Mila's exploration activities within the coincident areas. Liontown is also planning extensive low impact soil geochemistry and surface geophysical surveys over the Project and is in discussions with The Tjiwarl Aboriginal Corporation (TAC), the traditional land owners, to ensure that it avoids any sensitive heritage areas.

This work should provide further data to complement the soils work previously conducted by Mila, which identified the northern and central gold targets and allow geochemical analysis in untested areas within the Licence area. Further progress updates will be provided in due course.