Exploration Targeting At Canegrass Reveals Potential For LCT Type Pegmatites

VANCOUVER - Huntsman Exploration Inc. reported the results of the exploration targeting program completed across the Canegrass Project located in Western Australia. Recent exploration success by Aldoro Resources Ltd on their Wyemandoo Project, located adjacent to Canegrass the east, has provided the catalyst for Huntsman to evaluate the LCT pegmatite potential of the Project.

Exploration completed by Aldoro has consisted of satellite imagery interpretation, geochemical sampling, rock chip sampling and initial phase of drilling. Due to high degree of outcrop exposure and lack of vegetation, satellite imagery interpretation provides a rapid low-cost evaluation method to initially review and target pegmatite swarms. A satellite imagery-based interpretation was conducted across the entirety of the Canegrass Project and revealed extensive swarms of what is being interpreted as pegmatites. These interpreted pegmatites are located within the same lithologies and setting as that at Aldoro's Project. Furthermore, rock chip sampling conducted by Aldoro has confirmed the presence of high grade rubidium with associated lithium mineralization 1,400 m to the east of the Canegrass Project.

Field crews have been appointed and are ready to commence ground truthing, mapping and geochemical sampling of the priority targets in January 2023. The field mapping and sampling program aims to validate the satellite imagery targets and to ascertain the chemistry of the pegmatites at surface. The results of the field-based program are expected in late February to early March, 2023.

In 2021 the Company noted that as part of the Western Australian Mining Act, it was required to surrender 40% of its tenement tenure at Canegrass. The original tenure consisted of 14 exploration blocks and as such, the Company was required to surrender 6 of the existing exploration blocks. The above-mentioned review of the lithium potential at Canegrass and its surrounding areas has resulted in the Company re applying for the 6 exploration blocks when they became available, and the Company was successful in these applications.

President and CEO Scott Patrizi, said, "The identification of such a substantial swarm of pegmatites proximal to a known LCT type pegmatite system is particularly encouraging. With such a priority target, we have expedited the field evaluation and look forward to providing further updates with respect to the mineralization potential of the Project."