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18 July 2022

ASX ANNOUNCEMENT

Exploration Programs Update

Woomera Mining Limited (ASX: WML) (Woomera or the Company) is pleased to provide an update on the various exploration programs underway across its suite of nickel-copper-PGE, lithium and gold projects in Western Australia and South Australia.

Highlights

  • Completion of Mt Venn 1H exploration initiatives - assay results awaited from eight of 10 reverse circulation (RC) holes completed as part of May-June drilling campaign.
  • Airborne electromagnetic (EM) survey at the Wyloo Dome gold JV in the Ashburton scheduled for late July - targets identified will be tested with RC drilling
  • Heritage surveys completed and approvals expected to allow commencement of Aircore (AC) drilling at Lake Dundas lithium project in the September quarter
  • Geochemical sampling partially completed over Pilbara and Ravensthorpe lithium projects, with additional work scheduled for the September quarter

Current Exploration Programs

The majority of the Company's exploration objectives for the June quarter were met, save for the completion of sampling campaigns at the Pilbara and Ravensthorpe lithium projects, where rain events resulted in delays until the September quarter.

A summary of the key activities at each project follows:

Mt Venn Ni-Cu-PGE Project

Drilling Completed

Woomera's 80%-owned Mt Venn Project (Cazaly Resources Limited ASX:CAZ 20%) covers 50km of continuous strike within the underexplored Mt Venn Greenstone Belt located in the NE Goldfields of WA, 40km west of the world-class Gruyere Gold Project.

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Following the completion of a 10 hole RC drilling program at the Mt Cornell and Mt Warren prospects over May and June, the Company is awaiting final assays from the majority of holes. Results have been received for drill holes MVRC070 and MVRC071. Hole MVRC071 intersected 25m of disseminated sulphide mineralisation, with assays confirming a wide zone of anomalous copper and nickel mineralisation (see Table 1).

The drilling program was designed to test for extensions of the previously reported disseminated and massive Ni-Cu sulphide mineralisation in holes MVRC063, MVRC064 and MVRC065 including a potentially 500m-long mineralised strike between MVRC064 and MVRC065 (see ASX release dated 21st April 2022).

Drill holes MVRC057 and MVRC059 from last year's drilling have been resampled due to being misplaced at the laboratory. Samples were submitted after this year's drilling, and are still awaited.

Dependent on the pending results, the Company will assess drilling options moving forward. The Company still has a number of targets which are yet to be drilled including untested EM anomalies on an adjacent EL application which is expected to granted later this year.

Figure 1: Mt Venn JV - Mt Cornell prospect drilling plan showing EM anomalies (2021+2022)

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Wyloo Dome Joint Venture (Gold)

An airborne EM survey will commence at Woomera's Wyloo Dome Project, located between the +1Moz Paulsens and Mt Olympus gold deposits in the Ashburton region of WA, in late July 2022.

The Project covers over 40km strike of the highly prospective Mt McGraths Formation, which is the host rock for gold mineralisation at the Mt Olympus deposit. Woomera can earn a 60% interest in the project by spending up to $4 million on exploration within three years.

An RC program will be designed to test any targets arising from the EM survey.

Lithium Projects

Pilbara Lithium

A comprehensive geochemical sampling campaign was planned for the Pilgangoora North tenement during the June Quarter; however, adverse rainfall events made the bulk of the areas inaccessible and, the work has been rescheduled for completion by the end of August.

Lake Dundas Lithium

Woomera is awaiting Program of Work approval for its proposed Aircore drilling program at the Lake Dundas lithium project, near Norseman in Western Australia. A heritage survey was completed on the project during the June quarter.

An auger soil lithium anomaly (up to 43 ppm Li) was defined within project tenement EL63/1804 through a sampling program conducted by AngloGold Ashanti Australia in 2000 (1).

As previously advised, the Aircore program is designed to test for lithium mineralisation under the surface of the lake.

  1. Eddison F.J., (2012): Viking Project Combined Annual Report to the Department of Mines and Petroleum for the period 1/10/2011 to 30/9/2012. Open File WAMEX Report A096136 includes auger soil trace element determination over a full suite of elements using 25gm aqua regia with ICP-MS finish including Lithium (LLD 0.1ppm Li)

Ravensthorpe Lithium

Limited geochemical sampling was conducted over the Ravensthorpe tenement, located near Allkem Limited's Mt Cattlin lithium mine, during the June quarter. The full program of soil sampling is expected to be completed during the September quarter, with the aim of generating follow-up drill targets.

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Labyrinth Project - South Australia (Gold)

Woomera has completed a follow-up, infill auger program over at the Company's Labyrinth project. Results are expected to take eight weeks to be received. The Labyrinth project is located 200km west of Coda Minerals' Elizabeth Creek IOCG discovery.

Musgrave Project - South Australia (Ni/Cu)

Woomera has committed to completing an airborne EM survey over the prospective areas of its Musgrave project area which will take place in the December quarter 2022. This will be followed up with drilling of targets in the first half of 2023.

Woomera Chairman Ian Gordon, said, "The Woomera team is delighted at the positive headway made over our broad exploration portfolio during the June quarter. Most of this work was designed to generate priority drill targets to follow up over the balance of the calendar year and we see significant newsflow potential from our nickel-copper, lithium and gold projects during the coming months."

This ASX announcement has been approved and authorised for release by the Board of Woomera Mining Ltd.

For further information please contact:

Ian Gordon

Luke Forrestal (Media Relations)

Duncan Gordon (Investor Relations)

Chairman

Director, Financial Communications

Executive Director

Woomera Mining Limited

GRA Partners

Adelaide Equity Partners

+ 61 477 306 669

+61 411 479 144

+ 61 404 006 444

About Woomera Mining Limited

Woomera Mining Limited is a focussed mineral explorer. The Company is exploring for battery metals (lithium nickel, copper + PGE's) and gold in the Yilgarn and Pilbara Cratons of Western Australia plus the Musgrave Province in South Australia along with copper-gold mineralisation in the Gawler Craton of South Australia.

COMPETENT PERSONS STATEMENT

The exploration results reported herein, insofar as they relate to mineralisation, are based on information compiled by Mr Kevin Seymour. Mr Seymour is a consultant to Woomera Mining Limited and is a Member of the Australasian Institute of Mining and Metallurgy, with over thirty years of experience in the field of activity being reported. Mr Seymour has sufficient experience which is relevant to the styles of mineralisation and types of deposit under consideration and to the activity

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that he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' relating to the reporting of Exploration Results. Mr Seymour consents to the inclusion in the report of matters based on his information in the form and context in which it appears.

FORWARD LOOKING STATEMENTS

Certain statements in this document are or maybe "forward-looking statements" and represent Woomera's intentions, projections, expectations or beliefs concerning among other things, future exploration activities. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of Woomera, and which may cause Woomera's actual performance in future periods to differ materially from any express or implied estimates or projections. Nothing in this document is a promise or representation as to the future. Statements or assumptions in this document as to future matters may prove to be incorrect and differences may be material. Woomera does not make any representation or warranty as to the accuracy of such statements or assumptions.

PREVIOUSLY REPORTED INFORMATION

Information in the announcement may reference previously reported exploration results extracted from the Company's announcements. For the purposes of ASX Listing Rule 5.23 the Company confirms that it is not aware of any new information or data that materially affects the information included in the original announcement and that all material assumptions and technical parameters underpinning the estimates in the original announcements continue to apply and have not materially changed.

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Woomera Mining Ltd. published this content on 17 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 July 2022 23:43:07 UTC.