Tyranna Resources Ltd. provided the assay results received from Angolan Minerals Pty Ltd, proposed acquisition announced 16 May 2022, for the Namibe Lithium Project from the historical rock-chip sampling completed in 2019 and 2021 of pegmatites within the Giraul Pegmatite Field, with the outcome of results summarized below: Total number of pegmatites = approximately 600; Total number of pegmatites sampled = 16; Total number of sampled pegmatites belonging to LCT pegmatite family = 16; Number of sampled pegmatites yielding highly anomalous Li, Cs, Ta assay results = 11; Of these 11 pegmatites, number confirmed to contain Li minerals = 6; Of these 6 pegmatites, number confirmed to contain spodumene = 3. BACKGROUND: The project area was briefly visited in 2019 to verify the reported occurrence of lithium (Li) minerals but this "due diligence" inspection was only a small part of a field program that included inspection and sampling of three other projects in Angola. A total of 31 samples (AAR001-AAR031) were collected from four projects, with only two samples (AAR012 and AAR013) being collected from the Namibe Lithium Project. These two samples were taken from different pegmatites, to which the site codes 19a and 19b have been allocated.

In 2021 an additional 14 pegmatites were sampled, to which the site codes 21a, 21b, 21c, 21d, 21e, 21f, 21g, 21h, 21i, 21j, 21k, 21l, 21m and 21n have been allocated. A total of 153 rock chip samples (most having prefix LPR; two prefixed LPM) were collected during this sampling campaign. Of these 153 samples, 152 samples were from pegmatites, with one sample (LPR086 Litho) being of rock adjacent to a pegmatite.

SAMPLING METHOD: Although pegmatites are abundant and well-exposed in the project, the nature of the exposure is highly variable, with some pegmatites mostly covered by gravel and rubble derived from eroded outcrops. The sampling methodology used in the 2021 fieldwork was designed in recognition of this challenge. In situations where pegmatites have limited outcrop, those outcrops available to be sampled may not contain obvious readily identifiable lithium minerals, even if the pegmatite is in fact a lithium-bearing pegmatite, especially if the outcrop is quite weathered.

Sampling of microcline (a potassium feldspar mineral present in pegmatites) and muscovite (a pale flaky potassium mica mineral present in pegmatites) from pegmatites is an established method (e.g, Selway et al, 2005) of determining the potential of a poorly-outcropping pegmatite to contain lithium mineralisation. Assuming a comprehensive assay suite and suitable total-digest prior to assay, assay results from both microcline and muscovite allow the calculation of various ratios (e.g. potassium:rubidium [K:Rb] and potassium:caesium [K:Cs]) that indicate the potential for a pegmatite to contain Li minerals. Muscovite is particularly useful because if the pegmatite is enriched in Li, Cs or Tantalum (Ta), i.e. the defining characteristic of LCT pegmatites, then concentrations of these elements, as well as Rb and Tin (Sn), will be elevated.

For this reason, the fieldwork team were directed to inspect the available outcrop and collect specimens of microcline and muscovite, along with samples of rocks that they believed to contain lithium minerals or suspected may contain lithium minerals. NEXT STEPS: 1. Completion of detailed inspection of established best prospects (Sites 19a, 19b, 21g, 21k, 21l & 21n), including mapping and additional sampling; 2. Complete follow-up inspection of sites 21a, 21b, 21f, 21h & 21j; 3. Investigate additional as-yet uninspected sites to find additional lithium pegmatites. Once company have received the necessary shareholder approvals, Tyranna's short-term goal will be to define drill-targets with an intention to commence drilling as soon as possible.