Nickel Chrome Copper PGE Anomalies Identified at Coates Project

Highly encouraging Copper and PGE soil anomalism at Coates Project comparable with Chalice Gold Mines Julimar Project soil signatures

• AVL is exploring for nickel, base metals, gold and platinum group elements (PGEs) at its Coates Project near Wundowie 80km NE of Perth in WA.
• The Project covers a southern extension of similar mafic-ultramafic rocks to the sequence that is host to the Chalice Gold Mines’ nickel-copper-PGE Julimar Project (ASX:CHN) 29 km NNW of Coates.
• Initial soil survey highlights prospective sequence of Ni, Cu, PGE bearing rock untested by recent exploration.
• Copper anomalism at the project comparable with significant soil signatures at Chalice Gold Mines’ Julimar Project[1].
• Elevated nickel and chrome in soils, new PGE anomaly identified in NW of soil grid.
• Priority follow up work planned on soils and EIS funded drilling program in Q4 of 2021.
• AVL participating in SkyTEM airborne electromagnetic (AEM) survey over the Coates Mafic Complex planned for August 2021 to define potential massive sulphide conductors.
• 200m of historical diamond drill core from Coates Project secured for PGE and base metals analysis.

^[1] See CHN ASX announcement “Corporate Presentation – July 2021”, dated 7^th July 2021