The Bontempi Project is located 400m North of Perpetual’s Itinga Licenses (830489/2023 & 830490/2023, 832837/2023 & 830226/2021) and places them strategically near world-class lithium deposits such as Grota do Cirilo (Sigma Lithium) and the Bandeira Project (Lithium Ionic), both approximately 30km away. Additionally, Lithium Ionic's recent options for the Borges and Vale Projects, located approximately 11km from Perpetual's Itinga Projects, further highlight the advantageous positioning of Perpetual's land holdings.

These newly acquired licenses exhibit promising geological characteristics, including NE-striking pegmatites and significant artisanal workings providing insights into sub-surface mineralogy. Initial assessments have revealed anomalous LIBS readings, indicating substantial lithium potential.

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Exploration:

Preliminary work on the new permits includes targeted mapping and sampling efforts, in line with Perpetual's exploration strategy aimed at advancing the priority area of Itinga. This strategic approach positions Perpetual to leverage the rich lithium potential of the region, supported by its proximity to established lithium deposits and favourable geological conditions.

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Early-stage targets have been delineated by the discovery of multiple artisanal semi-precious gemstone mines within the licensed areas. Initial soil sampling and rock chipping have yielded anomalous values, suggesting substantial exploration potential.

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Key Results:

Reconnaissance LIBS Results returned peak values up to 2.1% Li2O (refer ASX release on 3 April 2024).

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