Voltaic Strategic Resources Limited (ASX:VSR) (Voltaic or the Company) has received the diagnostic metallurgical leach test results for the REE-enriched clays from the Neo prospect, and the results are in line with the majority of known REE clay projects in Western Australia.

Voltaic Chief Executive Officer Michael Walshe said: 'The 'first pass' drilling completed earlier this year at Neo identified significant mineralised clay intercepts (80m widths) from surface3 , and the subsequent diagnostic metallurgical work has demonstrated that the valuable magnet REEs can be recovered from the clay by leaching in hydrochloric acid at room temperature and pressure. 'The leaching tests undertaken, and prior scanning electron microscope (SEM) analysis2 , indicate that the REEs are present as ultrafine identifying carbonatite hosted REE's which have been shown to have a high proportion of the valuable MREEs neodymium and praseodymium in the TREO matrix, and favourable metallurgical characteristics for economic extraction' Mr Walshe said.

'The leach recoveries reported herein are preliminary non-optimised only, and there remains considerable potential for improvement in recovery and acid consumption. Planning for a second phase of metallurgical work is underway to outline preliminary economic parameters such as optimisation of the acid consumption rate, leach response from various sample depths & locations, impurity removal metrics and selection of a preliminary flowsheet. 'Concurrently, we are awaiting the processed results from the recently flown aerial magnetic and radiometric surveys which we anticipate will assist in identifying our next generation of primary carbonatite targets that we are aiming to drill test as soon as possible' Mr Walshe said. 'Only a small fraction of the extensive 1,300km2 tenement package at Paddys Well has been explored and the 'Critical Minerals' prospectivity is very high due to the attractive geology. The next phase of target generation is currently underway ahead of the next drill campaign where our focus is on primary REEs and niobium (carbonatites), and also copper & nickel sulphides'.

The term ionic adsorption clay (IAC) is ubiquitously used to describe REE deposits that easily recovered via an ion exchange mechanism during mildly acidic leaching with inorganic monovalent salt solutions (such as ammonium sulphate). IACs tend to be associated with lateritic weathering that has liberated and mobilised the REEs from REE-enriched granitic sources and are often dominated by the alumina-rich clay minerals kaolinite and halloysite)4 . The ion exchange mechanism with ammonium sulphate ((NH4)2SO4) is illustrated in equation 1 below where [IC3- ] represents a charged clay mineral surface and [REE3+ ] the REE ion that is physically adsorbed on clay mineral surface which undergoes an ion swap with the ammonium ion [NH4+] which attaches to clay.

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COMPETENT PERSON STATEMENT

The information in this announcement related to Exploration Results is based on and fairly represents information compiled by Mr Claudio Sheriff-Zegers. Mr Sheriff-Zegers is employed as an Exploration Manager for Voltaic Strategic Resources Ltd and is a member of the Australasian Institute of Mining and Metallurgy. He has sufficient experience of relevance to the styles of mineralisation and types of deposits under consideration and to the activities undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. He consents to the inclusion in this announcement of the matters based on information in the form and context in which they appear. The information in this document that relates to metallurgical test work and flowsheet development is based on, and fairly represents, information and supporting documentation reviewed by Mr Michael Walshe. Mr Walshe is engaged as Chief Executive Officer for Voltaic Strategic Resources Ltd. He holds a Bachelor of Chemical and Process Engineering (Hons.) and a Master of Business Administration (Finance). He is a chartered engineer with both Engineers Australia & the Institution of Chemical Engineers (IChemE), and is a member of the Australasian Institute of Mining & Metallurgy (AusIMM). He has over 15 years of experience in process engineering and metallurgy across a wide range of commodities including rare earths, and has approved and consented to the inclusion in this document of the matters based on his information in the form and context in which it appears.

FORWARD-LOOKING STATEMENTS

This announcement may contain forward-looking statements involving several risks and uncertainties. These forward-looking statements are expressed in good faith and believed to have a reasonable basis. These statements reflect current expectations, intentions or strategies regarding the future and assumptions based on currently available information. Should one or more of the risks or uncertainties materialise, or underlying assumptions prove incorrect, actual results may vary from the expectations, intentions and strategies described in this announcement. No obligation is assumed to update statements if these beliefs, opinions, and estimates should change or to reflect other future development. Furthermore, this announcement contains forward-looking statements which may be identified by words such as 'potential', 'believes', 'estimates', 'expects', 'intends', 'may', 'will', 'would', 'could', or 'should' and other similar words that involve risks and uncertainties. These statements are based on a number of assumptions regarding future events and actions that, as at the date of this announcement, are expected to take place. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company, the Directors and management of the Company. These and other factors could cause actual results to differ materially from those expressed in any forwardlooking statements. The Company cannot and does not give assurances that the results, performance, or achievements expressed or implied in the forwardlooking statements contained in this announcement will actually occur and investors are cautioned not to place undue reliance on these forward-looking statements

ABOUT VOLTAIC STRATEGIC RESOURCES

Voltaic Strategic Resources Limited explore for the next generation of mines that will produce the metals required for a cleaner, more sustainable future where transport is fully electrified, and renewable energy represents a greater share of the global energy mix. The company has a strategically located critical metals portfolio led by lithium, rare earths, base metals, and gold across two of the world's most established mining jurisdictions: Western Australia & Nevada, USA. Voltaic is led by an accomplished corporate and technical team with extensive experience in REEs, lithium and other critical minerals, and a strong skillset in both geology and processing / metallurgy.

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