Mount Burgess Mining (MTB) has signed a Memorandum of Understanding (MOU) with Botala Energy Ltd (BTE).

Purpose of MOU

The MOU concerns the potential for the supply by BTE of an energy solution consisting of solar / battery hybrid potentially backed by Liquified Natural Gas (LNG), in the event MTB adopts this potential power supply for its Kihabe-Nxuu Zn/Pb/Ag/V/Ge/Ga polymetallic project. BTE is currently developing a coal bed methane (CBM) gas project in the Serowe District of Botswana. With both companies operating in Botswana, where BTE has the potential to provide a power supply and MTB is requiring a power supply, discussions have commenced for the purpose of achieving a mutually beneficial solution.

MTB's Kihabe-Nxuu Polymetallic Project

MTB's Kihabe-Nxuu project, is situated in Prospecting Licence PL43/2016, which covers an area of 1,000 sq/km. PL43/2016 is situated right up against the Namibian border in Western Ngamiland, Botswana. MTB is currently awaiting assay results from recent drilling conducted at its shallow basin shaped, totally oxidised Nxuu Deposit.

Some further 1,500m of drilling is required to then enable MTB to quote an Indicated/Measured Resource compliant with the 2012 JORC Code, whereupon MTB can then proceed to a Pre-feasibility Study. Once having evaluated a commercial power supply, MTB can then proceed to a Definitive Feasibility Study

BTE's Coalbed Methane Gas Project

BTE is the operator of Prospecting Licences PL2018/16, PL2018/18, PL2018/19, PL2018/356, PL2018/357 and PL2018/400. BTE owns 49% of the project as part of a $6.1m farm-in agreement with Pure Hydrogen Corporation (ASX: PH2) owning the remaining 51%. BTE have the right to earn up to 70% upon listing on the ASX. The Serowe project covers an area of 413,080 hectares in the Serowe district of Botswana. These Prospecting Licences cover the right to explore for coal bed methane (CBM) gas. The BTE operated fields have been independently certified to contain an estimated 10 trillion cubic feet of a prospective CBM resource across the PLs, and an estimated contingent 2C1 resource of 160 billion cubic feet2 occurring within the vicinity of three of the five drilled wells. Results from the remaining two wells are currently with the independent certifier and 2C reserve estimates will be revised.

A testing program is currently being designed to test commercial production rate of the coals encountered. This information will determine gas deliverability, which is a key factor in project economics. BTE is currently planning an additional four exploration wells for 2022. BTE's long term view is to convert CBM gas to compressed natural gas (CNG) and ultimately to LNG. Conversion to LNG could enable BTE to supply potential users within a radius of 1,000 km. The Kihabe-Nxuu project is some 880 km from the Serowe CBM gas fields.

This announcement has been approved for release by the Board of Mount Burgess Mining NL, the Chairman of Botala Energy Ltd and Pure Hydrogen Corporation (ASX Code: PH2)

Contact:

Tel: (61 8) 9355 0123

Fax: (61 8) 9355 1484

Forward Looking Statement

This report contains forward looking statements in respect of the projects being reported on by the Company. Forward looking statements are based on beliefs, opinions, assessments and estimates based on facts and information available to management and/or professional consultants at the time they are formed or made and are, in the opinion of management and/or consultants, applied as reasonably and responsibly as possible as at the time that they are applied. Any statements in respect of Ore Reserves, Mineral Resources and zones of mineralisation may also be deemed to be forward looking statements in that they contain estimates that the Company believes have been based on reasonable assumptions with respect to the mineralisation that has been found thus far. Exploration targets are conceptual in nature and are formed from projection of the known resource dimensions along strike. The quantity and grade of an exploration target is insufficient to define a Mineral Resource. Forward looking statements are not statements of historical fact, they are based on reasonable projections and calculations, the ultimate results or outcomes of which may differ materially from those described or incorporated in the forward-looking statements. Such differences or changes in circumstances to those described or incorporated in the forward-looking statements may arise as a consequence of the variety of risks, uncertainties and other factors relative to the exploration and mining industry and the particular properties in which the Company has an interest. Such risks, uncertainties and other factors could include but would not necessarily be limited to fluctuations in metals and minerals prices, fluctuations in rates of exchange, changes in government policy and political instability in the countries in which the Company operates.

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