Enova Mining (ASX: $ENV) Exploration Update

Enova Mining Ltd (ASX: $ENV) is pleased to report extensive surface saprolite clay systems encountered across all Poços tenements. The Phase 1 exploration is progressing well with surface clay systems identified on all tenements, particularly on the largest of the Poços tenements (830.652/2020) covering an area of 1,259 Ha. The maiden shallow auger drilling campaign is currently in progress, targeting high priority areas in the same geological context of the rare earth element (REE) in the massif, with known occurrences of Ionic Absorption Clays (IAC) enriched with REE. The project is situated in close proximity to Meteoric Resources' World Class Calderia Project, namely the ultra-high grade Soberbo deposit. Enova is also in discussions with local landowners to strategically expand tenements where feasible in the Pocos De Caldas Region.

Executive Commentary

The swift pace of exploration and professional expertise of the local Brazilian team confirm Enova's confidence that the Minas Gerais region has established an experienced exploration team to undertake the future exploration program, subject to exercising the option to acquire the tenements.

Summary

Enova Mining Ltd (ASX: $ENV) has made significant progress in the Phase 1 exploration, with extensive surface clay systems identified across all Poços tenements. The ongoing maiden drilling campaign is targeting high priority areas for rare earth element enrichment, and the company is in discussions to strategically expand its tenements in the Pocos De Caldas Region. Enova expects to receive assay results by mid-April and remains committed to the development of the Charley Creek rare earth project. The market will be kept apprised of developments as required under ASX Listing Rules and in accord with continuous disclosure requirements.