Enova Mining's Verification of High REE Assay Grades at CODA North

Enova Mining Limited (ASX: $ENV) has verified significant intersection results for high rare earth element (REE) assay grades at CODA North. The diamond drilling results have confirmed the presence of world class clay hosted rare earth grades, with peak REE assays providing guidance for a high-grade exploration target at CODA North. Enova is confident in delineating district sized REE deposits and is progressing discussions with local communities for strategic expansions, subject to due diligence and regulatory compliance.

Executive Commentary on CODA Project

As our due diligence approaches its close, our team is increasingly impressed by the prospectivity of the CODA project tenements and historical drilling. This drilling provides another vector for our Phase 1 resource drilling programme for both CODA north and south tenements. These diamond drilling results show the mineralised zones to be continuous and of significant depth. The CODA tenement package in its own right is a company maker. Enova is now in the envious position of two major potential IAC REE project regions: POCOS and CODA.

Summary of CODA Project and Outlook

Enova Mining's verification of high REE assay grades at CODA North has uncovered the potential for a district sized high grade REE deposit. The company is confident in its ability to delineate these deposits and is progressing discussions with local communities for strategic expansions. Enova plans to fast-track an exploration program targeting high grade zones intersected by historical drilling. The company aims to replicate the success of its peers in the Patos de Minas region, which hosts world class REE discoveries. With the attractive business environment in Brazil and the State of Minas Gerais, Enova is committed to the acquisition of the CODA project, pending shareholder approval. The market will be kept appraised of developments as Enova continues to review projects and business opportunities as they arise.