Announcement PDF 1 Litchfield Minerals Limited ACN 612 660 429 ANNUAL REPORT FOR THE FINANCIAL YEAR ENDED 30 JUNE 2024 2 Litchfield Minerals Limited - Annual Report – for the year ended 30 June 2024 Contents CHAIRMANS’ LETTER............................................................................................................................ 3 REVIEW OF OPERATIONS .................................................................................................................... 5 CAUTIONARY STATEMENTS .............................................................................................................. 25 DIRECTORS’ REPORT......................................................................................................................... 27 AUDITOR’S INDEPENDENCE DECLARATION.................................................................................... 39 STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME................................ 40 STATEMENT OF FINANCIAL POSITION.............................................................................................. 41 STATEMENT OF CHANGES IN EQUITY.............................................................................................. 42 STATEMENT OF CASH FLOWS........................................................................................................... 43 NOTES TO THE FINANCIAL STATEMENTS........................................................................................ 44 CONSOLIDATED ENTITY DISCLOSURE STATEMENT....................................................................... 64 DIRECTORS’ DECLARATION............................................................................................................... 65 INDEPENDENT AUDITOR’S REPORT.................................................................................................. 66 SHAREHOLDER INFORMATION.......................................................................................................... 69 Corporate Directory Directors and Company Secretary Matthew Pustahya Peter Eaglen Mark Noppé Peter Harding-Smith (Company Secretary) Stock Exchange Listing Australian Securities Exchange Ltd ASX Code: LMS Head office and Registered Office Suite 606, Level 6, 10 Market Street Brisbane QLD 4000 Phone: (07) 3212 6299 www.litchfieldminerals.com.au Solicitor EMK Lawyers Suite 1, 519 Stirling Highway Cottesloe WA 6011 Auditors Moore Australia Audit (WA) Level 15, Exchange Tower 2 The Esplanade Perth WA 6000 Australian Company Number 612 660 429 Share Register Xcend Pty Ltd Level 2, 477 Pitt Street Haymarket NSW 2000 Banker Westpac Banking Corporation Limited 3 CHAIRMANS’ LETTER Dear Fellow Shareholders, On behalf of the Board of Directors, it is my pleasure to present to you the 2024 Annual Report on what has been a very busy 2024 for Litchfield Minerals Limited (Litchfield, or the Company), since listing on the ASX. Litchfield Minerals has rapidly initiated its efforts in delivering a carefully considered exploration program, initially assessing the potential of the West Arunta tenement of Mount Doreen. As promised, the team hit the ground running in March, shortly after listing. The in-ground effort has included an initial reverse circulation and diamond drilling campaign based on targets that were being developed during the IPO period, discovering the desired sulphide mineralisation that now requires further assessment. The above-ground efforts have also been undertaken to efficiently and effectively assess the Mount Doreen targets areas more broadly. As reported, the results have confirmed large magnetic zones as well as complimentary significant gravity anomalies. The team recently completed a Lithostructural review across Mount Doreen, a GAIP (Gradient Array Induced Polarization) survey and have initiated a VTEM (Versatile Time Domain Electromagnetic) survey to deepen our understanding of the geological context of our portion of the West Arunta province, with the aim of providing insights to where our target mineralisation is optimal to be explored. In addition to the above completed work, exploration efforts for uranium and thorium have focused on ground-based scintillometer surveys, soil and rock chip sampling over radiometric target granites. The forthcoming results of these analyses will guide our next steps in exploring Rare Earth Elements and uranium potential. The Board has continuously encouraged the team’s forward-thinking approach through the implementation of these advanced geophysical techniques, to identify new high-priority targets. The team's ability to integrate cutting-edge technology will ensure a deeper understanding of the geological landscape and will be a basis for accelerating progress towards future discoveries. Importantly to myself and the Board, the above field work has been completed with no lost time injuries, no medical treatments and only one minor first aid case. Matthew Pustahya, our Managing Director, has been keenly leading the way for a safe and harmonious workplace for our employees and all our contractors. Matthew understands the need for small exploration camps to not only work safely, but also the importance of working well together in order to achieve in-field efficiencies that our Company desires for optimal programme delivery. Acquiring additional leases to ensure the future exploration optionality for the Company. When establishing the IPO, the company held the tenements of Mount Doreen and Lucy Creek, which totalled approximately 1,180 km2 . Since listing, two additional leases have been applied for, a northern extension to Lucy Creek (or Lucy Creek 2, ~800 km2 ) and Yambah (~650 km2 ). The extensive exploration tenement across what will be 2,630 km2 of the Northern territory will provide the Company with great optionality to determine the most productive effort to assess the mineral deposit viability during successive exploration programmes. At Mount Doreen, our focus remains on exploring for base metals, uranium, and rare earth mineralisation. The benefit of obtaining additional tenement will allow the Company to expand exploration effort into the increasingly important manganese potential across the 1,600 km2 of the Lucy Creek tenements near the Northern territory / Queensland border. In addition, we now have Yambah, which is only 70 km north of Alice Springs and came with already mapped mafic units that indicated it is a promising site for various mineral styles. As a new company, we conscientiously living by the Oscar Wilde phrase of, “you never get a second 4 chance to make a first impression”. We have demonstrated this through how our interactions must continuously be meaningful across the breadth of our stakeholders, such as our local Northern Territory communities, our regulators our hard-working contractors and, importantly, our shareholders. We are determined to develop and maintain excellent relationships across all external stakeholders with the efforts we are undertaking. This can be seen through the content and frequency of keeping people updated with our ASX announcements. I will ensure that this importance of good communications does not abate. In summary, during the short history of our company, with the key support the shareholders, we have already made significant strides in 2024, towards our goal of discovering and developing new mineral deposits in the Northern Territory. I firmly believe that our team’s proactive and results-driven approach underscores Litchfield's commitment to delivering value for shareholders. Yours sincerely Dr Peter Eaglen Non-executive Chairman 5 REVIEW OF OPERATIONS Litchfield Minerals holds a portfolio of exploration assets in the Northern Territory, highly prospective for base metals, manganese, rare earths, and uranium. This portfolio includes two granted tenements— Mount Doreen (EL31305) and Lucy Creek (EL33568)—as well as two exploration applications for Yambah (EL33889) and Lucy Creek 2 (EL33888), covering a combined area of nearly 2,600 square kilometres. Figure 1. Litchfield Minerals Pty. Ltd. projects within the Northern Territory. Mt Doreen Project (100% Owned, EL31305) • Primary focus in FY2024 was completing geophysics and drilling of historic base metal prospects (refer to Figures 2 and 3). • A detailed aeromagnetic survey (100m and 50m line spacing) was completed over the northern tenement block (300km2 , 4,222 line km). This data significantly increased resolution over historical surveys (400m line-spacing) and is a critical dataset that will be used to complete a detailed lithostructural interpretation early in FY25 • During FY24, Gradient Array Induced Polarization (GAIP) surveys were completed at Mt Irene (0.8km x 1.5km) and Wolfram Hill (1.1km x 1.5km) • Pole-Dipole Induced Polarization (PDIP) was completed at Mt Irene (1.1km single line) and Wolfram Hill (4 lines, 3,750m) 6 • Induced Polarization surveys identified a +25mV/V chargeability anomaly at Mt Irene and multiple +15mV/V chargeability anomalies at Wolfram Hill beneath historical workings • Ground-based scintillometer data was collected over the Uranium and Thorium-enriched granites east of Silver King to help define zones of radiometric anomalism (1,643 samples, 27.4 line km) • RC and diamond drilling at Silver King, Mt Irene and Copper Flats (north Wolfram Hill) produced a combined total of 1,769 meters drilled over 12 drill holes (results announced 14th August 2024) • Soil (104 samples) and rock chip sampling (25 samples) were completed over radiometric ‘hot’ granites northeast of Wolfram Hill and east of Silver King to assess REE mineralization potential. An additional 28 rock chip samples were collected over the mineralized zones at Wolfram Hill (awaiting results) Figure 2. Aeromagnetic survey and drillholes completed during FY24. 7 Figure 3. Induced Polarization, ground gravity and surface sampling completed in FY24. Key Exploration Targets: • Silver King: A mineralised zone within quartz-muscovite schist, showing potential for polymetallic mineralisation (copper, lead, zinc and silver). • Mount Irene: Copper, zinc and silver occurrences within quartz-veined shears with high chargeability anomalies identified through induced polarization geophysical surveys. • Clark: Copper mineralisation in quartz-veined shear zones with historical workings showing promising results. • Wolfram Hill: Tungsten and copper mineralisation associated with pegmatite and quartz veins, with historical production of wolframite. Exploration Work Since IPO: Aeromagnetic Survey During March 2024, MagSpec Airborne Suveys completed a detailed aeromagnetic survey over the northern block of the Mt Doreen EL31305 (Figure 4). A total of 4,222 line kilometres were completed covering approximately 300km2 . The entire survey was flown at 100m line-spacing and additional 50m lines were completed over the Mt Irene/Clark and Silver King prospects (Table 1). Data was stitched into the Rio Tinto Exploration 1997 Annie Springs survey (covered southern block of EL31305) to produce a series of magnetic images that cover all of EL31305. This new aeromagnetic survey has produced a high-resolution dataset that will be critical for lithostructural geological interpretation of EL31305 that is scheduled for completion in Q1 FY25. 8 Table 1. 2024 aeromagnetic survey line-spacing details. Figure 4. RTP SUN 1VD Tilt image of EL31305 showing the stitched image of the Mt Doreen 2024 aeromagnetic survey (northern EL31305 block) with the 1997 Rio Tinto Annie Springs survey (southern EL31305 block). Gradient Array Induced Polarization Surveys Mt Irene An 800m x 1,500m gradient array IP (GAIP) survey was completed at the Mt Irene prospect (Figure 5) to extend the 2023 survey and to cover a strong (25mV/V) chargeability anomaly identified in the 2023 Pole-Dipole IP survey (Figure 6). GAIP chargeability data shows a continuation of the main west- northwest trending Mt Irene structural trend and an east-northeast trending linear chargeability feature was also identified. The Mt Irene workings, the northwest GAIP and western PDIP chargeability anomalies were all targeted with RC drilling during May to June 2024. 9 Figure 5. Mt Irene Gradient Array IP chargeability images from the 2023 (right) and 2024 (left) surveys and the single Pole-Dipole IP line relative to the four completed RC holes. Figure 6. Pseudo-sections and inversion sections of the March 2023 Mt Irene pole-dipole IP survey showing the pronounced chargeability anomaly on the western end of the line (25mV/V). 10 Wolfram Hill / Copper Flats Gradient Array Induced Polarization (1,100m x 1,500m) and four lines of Pole-Dipole IP were completed at Wolfram Hill in April 2024 to cover the main historical workings and surrounding shallow alluvial cover (Figure 7). The PDIP data identified a strong chargeability anomaly in the eastern parts of the sections, however, it was interpreted that this response was most likely attributable to the barbed wire fence surrounding the air strip (Figure 8). Two main GAIP chargeability anomalies were identified, one in the southwest of the survey corresponds well with exposed historical workings and the other to the northeast of the survey runs along the western side of the air strip. Litchfield Minerals currently does not have access to drill beneath the historical Wolfram Hill workings due to on-going negotiations with the Aboriginal Areas Protection Agency and so the northeastern chargeability anomaly (named Copper Flats) was tested with two RC drillholes during the inaugural drilling campaign (LMRC005/006, see drilling section below). Pole-Dipole IP produced +15mV/V chargeability anomalies coincident with historical workings (Figure 9) and formed coincident anomalies with the Gradient Array IP data. Figure 7. Outlines for the 2024 Wolfram Hill Gradient Array and Pole-Dipole Induced Polarization surveys. 11 Figure 8. Google Earth image of the Wolfram Hill prospect overlain by GAIP chargeability image. The forked linear trends in the southern part of the survey are coincident with historical Wolfram Hill workings. Figure 9. Wolfram Hill Pole-Dipole IP sections showing coincident chargeability anomalies with historical workings and intense chargeability anomalies coincident with the air strip. 12 Drilling Campaign Summary Litchfield's inaugural drilling campaign targeted three prospects within the Mt Doreen project (Silver King, Mt Irene, Copper Flats, Figure 10) with twelve holes for a total 1,769m (1,006m RC, 763m DD, Table 2). Figure 10. Satellite image of the Mt Doreen project (EL31305) showing the location of the key historic prospects including drill collar location. Table 2. Reported intercepts from the FY24 drilling campaign. Intercepts calculated using a minimum 0.1% cut-off and maximum 2m internal dilution. Hole_ID From(m) To(m) Interval(m) Cu_% Pb_% Zn_% Ag_PPM Au_PPM LMD001 20 35 15 0.23 0.0762 0.31 4.8 0.02 Incl. 20.75 23 2.25 0.49 0.14 0.35 16.7 0.08 45.48 49 3.52 - - 0.37 2.01 - LMRD002 25.26 29.16 3.9 0.11 0.0363 0.28 1.27 - 66.2 68.3 2.1 0.0343 0.93 3.78 5.79 0.01 LMRD003 22.8 27.4 5.2 0.14 0.18 0.21 14.1 - 49.8 57 7.2 0.15 - 0.39 2.4 - LMRD004 0 33 33 0.0835 0.28 0.57 1.92 - Incl. 25 32 7 0.0613 0.6 1.48 3.02 - 49 66 17 0.0476 2.47 1.06 15.93 - Incl. 51 54 3 0.1 11.84 5.62 57.1 - Incl. 64 65 1 0.1 4.5 0.35 90.6 - LMRC009 29 32 3 0.14 0.15 0.0748 2.93 - LMRC010 21 35 14 0.16 0.0563 0.37 1.17 - Incl. 32 33 1 1.17 0.26 1.2 6.6 - 13 Silver King At Silver King (Figure 11), six holes were drilled (1,061.37m) comprising four RC holes with diamond tails, a single diamond hole and a single RC hole (296.6m RC / 764.7m DD). Holes were designed to test the extension and geometry of base metal mineralisation beneath exposed historical workings. Drillholes LMD001 and LMRD002 (Figures 12, 13) intersected a thick package of metamorphosed fine- grained sedimentary rocks (Lander Rock Formation) intruded by a swarm of narrow, feldspar-quartz- muscovite pegmatites. Mineralised intervals are characterized by base metal sulphide veins and minor, narrow zones of semi-massive and massive sulphide (pyrite, sphalerite, galena, chalcopyrite, pyrrhotite). Mineralisation is commonly accompanied by varying degrees of pervasive silica-sericite wallrock alteration and associated disseminated sulphides. Figure 11. Silver King prospect showing gradient array IP chargeability plan, drillhole locations, semi-coincident magnetic anomaly and best mineralised intercepts. LMRD008 collar is located 415m north of LMRD004. 14 Figure 12. Schematic cross-section (7552235mN looking north) showing the 25m thick zone of +0.1% combined Cu-Pb-Zn intersected in LMD001. Figure 13. Schematic cross-section (7552275mN looking north) showing several narrow zones of base metal mineralization intersected in LMRD002. 15 LMRD003 was drilled to the northeast to intersect both the targets identified by the Induced Polarisation (IP) chargeability and magnetic models (Figures 11, 14). Drilling intersected an identical host sequence to LMD001/LMRD002, comprising metasandstone and metasiltstones of the Lander Rock Formation, punctuated by narrow, coarse-grained quartz-feldspar-muscovite pegmatites (<1m). Base metal sulphide mineralisation was intersected almost continuously from surface to 64.3m (57m @ 0.32% combined Cu-Pb-Zn), comprising zones of disseminated pyrite-chalcopyrite-sphalerite (0.5 – 5% total sulphides, 24 – 35m), pyrrhotite-sphalerite-chalcopyrite veinlet crackle breccia (0.5 – 5% total sulphides), with associated weak to moderate pervasive wallrock silicification all cut by 1%, late, brittle chlorite ± pyrite veins (Table 2). Figure 14. Schematic cross-section of LMRD003 (looking northwest), showing a broad interval of combined +0.1% Cu-Pb-Zn with several narrow zones of elevated mineralisation. LMRD004 was drilled through Lander Rock Formation to the south to test the coincident IP-magnetic models (Figure 15) and intersected the strongest mineralisation from the five Silver King holes (Table 2). The upper mineralised zones are associated with disseminated, veinlet and crackle breccia sphalerite- pyrite-galena-chalcopyrite±pyrrhotite mineralisation, with weak- to moderate silica-sericite wallrock alteration. Sulphide content varies throughout the interval but ranges from 1 – 15% sphalerite, 1 – 4% pyrite and minor to trace galena, chalcopyrite, pyrrhotite over 1m intervals. The lower mineralised zone is characterised by generally weak disseminated and veinlet sulphides (<2%), with weak to moderate silica-sericite wallrock alteration, punctuated by two narrow zones of semi-massive and massive sphalerite-galena-pyrrhotite-pyrite±chalcopyrite at 51m and 64m (Figure 16a). Mineralisation shows a complex, multi-phase paragenesis with early massive pyrrhotite-sphalerite chalcopyrite cut by later massive galena-sphalerite (Figure 16b). 16 Figure 15. Schematic cross-section of LMRD004 (looking west), showing two mineralised intervals, both above and below the redox zone. Figure 16. A. Diamond Drill core of LMRD004 50.4 – 53.7m, showing zones of massive sulphide within silica- sericite-altered and folded Lander Rock Formation. B. Close-up of cut core from red box in A showing massive pyrrhotite-sphalerite-chalcopyrite cut by galena-sphalerite within strong silica-sericite-altered Lander Rock Formation. 17 LMRC007 (181m) was drilled east away from the main Silver King prospect into the interpreted eastern extension of the main IP chargeability anomaly and intercepted unmineralised Lander Rock Formation throughout. LMRD008 (261.2m) was collared 470m north of Silver King and drilled to the south into a peripheral, low-magnitude IP chargeability anomaly. The hole was partly funded by the Northern Territory government. This hole also drilled unmineralised Lander Rock Formation throughout and together with LMRC007 effectively sterilised the low chargeability anomalies surrounding the main target of the Silver King prospect. At Silver King, there is a broad correlation between observed sulphides in core and modelled chargeability / magnetic susceptibility, indicating that these two geophysical techniques are suitable for detecting and modelling Silver King-type mineralisation. The Pole-Dipole IP chargeability sections, particularly 725300mE, shows a shallow-rooted, weakly concave geometry that shows a good correlation with observed sulphides in drill core. Mineralization identified in LMRD004 indicates that Silver King-type systems have the capacity to produce semi-massive and massive sulphides and similar mineralized zones are likely to be identified within the upcoming airborne EM survey (VTEM) scheduled for completion in Q1 FY25. Copper Flats Two, 150m RC holes (LMRC005, LMRC006, Figure 17) were completed at the Copper Flats prospect on the northeastern chargeability anomalies (Table 2, Appendix 1 - 5). Drilling intersected metamorphosed sediments of the Lander Rock Formation and multiple narrow pegmatites but did not intersect any meaningful mineralized zones. This data potentially confirms the interpretation that the northeastern GAIP chargeability anomaly is caused by the fence surrounding the air strip. Figure 17. Aerial image of Wolfram Hill overlain by FY24 Gradient Array IP Chargeability image showing the correlation between historical workings and chargeability and the proximity of the northeastern anomalies to the western side of the air strip (LMRC005, 006). 18 Mount Irene At Mt Irene, four RC holes were drilled (LMRC009 – LMRC012, 408m, Table 2) with, two drilled underneath the historical Mt Irene copper prospect (LMRC009/010). LMRC011 was drilled to target the northern Gradient Array IP chargeability anomaly and LMRC012 was drilled to test the westerly Pole- Dipole IP chargeability anomaly. LMRC009 and LMRC010 (Figures 18, 19) were both drilled to target the down-dip extension of outcropping mineralisation at the Mt Irene prospect. Both holes intersected narrow (1 – 5m) quartz- malachite / gossanous mineralisation in the interpreted down-dip position below small-scale historic mining pits. Mineralisation is hosted within schistose Lander Rock Formation within a structurally- controlled quartz vein lode. The presence of malachite and minor gossanous zones is indicative of supergene leaching and copper mobility. LMRC011 was drilled to test a gradient array IP chargeability anomaly approximately 450m along strike to the northwest of the historic Mt Irene mining pits. Drilling intersected Lander Rock Formation throughout with several unmineralized milky quartz veins and narrow pegmatites. The hole was terminated before the target depth (220m) due to excessive water and limited sample return. LMRC012 was drilled to target a strong chargeability anomaly (peak 25mV/V, almost double Silver King, Figure 20) in the single pole-dipole line. Additional lines were planned, however, unseasonal heavy rains forced the early completion of the program. The drillhole intersected Lander Rock Formation throughout that is oxidized to end of hole, indicating a very deep weathering profile, most likely relating to a well-developed NNE-trending structure. Unfortunately, the hole was terminated early at 162m (250m planned depth) due to excessive water and inadequate sample return. Trace limonite and rare disseminated chalcopyrite was observed below 100m, however, no +0.1% Cu-Pb-Zn assays were returned. Additional pole-dipole lines are required to refine the geometry of this chargeability anomaly. 19 Figure 18. Schematic cross-section of LMRC009 (looking northwest), showing the mineralized quartz-copper carbonate structure below the historic Mt Irene pit. Figure 19. Schematic cross-section of LMRC010 (looking northwest), showing a broader zone of low-level Cu-Pb- Zn anomalism surrounding a narrow, mineralized quartz-copper carbonate structure. 20 Figure 20. Pole-Dipole IP chargeability section 7562375mN (looking north) showing a strong chargeability anomaly that was targeted with LMRC012. Prospective Mineralisation Models: • Epigenetic Intrusion-Related Breccia and Vein Mineralisation: Potential for polymetallic mineralisation. • Iron-Oxide Copper-Gold (IOCG) Related Mineralisation. • Carbonatite/ Rare Earths. • Orogenic Gold Mineralisation. • Syngenetic Base Metal and Precious Metal Mineralisation. • Sandstone-Hosted Uranium Mineralisation. Conclusion: The Mount Doreen project is a well-advanced exploration asset with significant potential for discovering economically viable mineral deposits. The historical data, combined with Litchfield’s recent exploration efforts, provide a strong foundation for continued exploration. The project is strategically focused on high-priority targets with the potential for multiple mineralisation styles, making it a key component of Litchfield’s exploration portfolio. 21 Lucy Creek and Lucy Creek 2 Project Overview (100% Owned, EL33568 and ELA33888) Figure 21. Lucy Creek Project tenement location map. Exploration Model - Manganese Lucy Creek area has the potential to host a manganese deposit similar to the Bootu Creek Manganese Mine. Located approximately 110 km north of Tennant Creek in the Northern Territory, Bootu Creek is a significant manganese deposit within the Tomkinson Province. Discovered and developed by OM Holdings Ltd. through its subsidiary OM (Manganese) Ltd, the mine commenced operations in 2005 and remained active until December 2021, when it was placed under care and maintenance. The geological characteristics and mineralization processes observed at Bootu Creek provide a strong analogue for what might be expected at Lucy Creek. Key Geological Features (Bootu Creek Model): • Deposit Type: The Bootu Creek deposit is a hydrothermally modified sedimentary deposit, primarily hosted in Palaeoproterozoic rocks of the Tomkinson Province. The manganese mineralization is stratabound, occurring at the contact between the Attack Creek Formation (dolomite-siltstone) and the overlying Bootu Formation (sandstone). • Associated Structure - The mineralized zones are associated with a folded structure, known as the Bootu Syncline, which plays a crucial role in controlling the distribution of manganese. 22 • Mineralization: The manganese mineralisation at Bootu Creek is predominantly supergene enriched within a deeply weathered profile. The main manganese minerals include Pyrolusite and Cryptomelane in a silica-rich gangue within the supergene zone, overlying a zone of Rhodochrosite and Braunite at depths greater than 90 meters. • Resource Size: The Bootu Creek resource models have a combined strike length of 16 km, with individual deposits ranging from 0.7 km to 2.9 km in length. The mineralization widths vary between 3 meters and 15 meters. Lucy Creek Exploration Focus: • Manganese and Iron Deposits: The Lucy Creek area is known for its manganese occurrences, particularly within the Tomahawk Formation, where manganese is associated with dolomitic siltstones. There is potential for high-grade manganese-iron deposits, possibly associated with REE and cobalt mineralisation. • REE Mineralisation: The area may be prospective for REE mineralisation associated with carbonate-hosted phosphate-bearing horizons within the Georgina Basin sequence. • MVT Base Metal Mineralisation: Potential for Mississippi Valley Type (MVT) base metal deposits, which are stratiform, sediment-hosted, primarily lead and zinc. • Kimberlitic Diamond Mineralisation: The geological setting is considered prospective for diamonds, with the Altjawarra Block beneath the Georgina Basin being a potential source of kimberlitic diamond pipes. Proposed Exploration Work 2025: • Exploration Focus: Litchfield intends to explore the Lucy Creek area for high-grade manganese, REE, base metals, and diamonds. The exploration program is expected to include geological mapping, geochemical sampling and geophysical surveys to identify and define drill targets. Key Opportunities: • Strategic Potential: The Lucy Creek project offers a diverse range of exploration opportunities with the potential for discovering commercially viable manganese, REE, base metal and diamond deposits. • Proximity to Known Deposits: The project is located within a region known for its mineral endowment, providing a strong geological basis for continued exploration efforts. Conclusion: The Lucy Creek project represents an exciting early-stage exploration opportunity within the Georgina Basin, a region known for its diverse mineralisation potential. With a strategic focus on manganese, REE, base metals and diamonds, the project has the potential to contribute significantly to Litchfield’s exploration portfolio. Continued exploration and successful tenure acquisition will be critical to unlocking the project’s full potential. 23 Yambah Project (100% Owned, ELA33889) • ELA33889 was applied for during FY24 to target base metal sulphides within under-explored mafic/ultramafic intrusive rocks (Figure 22). Figure 22. Yambah Project tenement location map. Exploration Focus: • Continued focus on detailed geological mapping and further rock chip sampling to better define the extent and grade of copper mineralisation. • VTEM Survey designed to test the tenement package for massive sulphides. • Potential for drill testing to explore below the surface expression of the mineralisation, particularly targeting the pyroxenite body and its surrounding structures. Conclusion: The Tom Brauns Prospect represents a significant exploration target within the Yambah Project, with strong indicators of copper mineralisation. The presence of high-grade copper, alongside zinc and silver anomalies, warrants further exploration efforts. Continued work at Tom Brauns, particularly at the Tom Brauns II occurrence, could lead to the discovery of a commercially viable copper deposit, contributing to the overall exploration success of the Yambah Project. 24 Corporate In October 2023, Dr Peter Eaglen a