Exploration progress at Bynoe Project

EverGreen Lithium Limited (ASX: $EG1) has reported encouraging progress from its initial exploration activities at the Bynoe Project, located 50km south of Darwin and directly east of Core Lithium's Finniss Mine in Australia's Northern Territory. The company's initial aircore drilling has successfully intercepted pegmatitic intrusions in multiple locations, particularly at the Lunchbox and Frogmouth prospects. This development indicates the potential extension of Core Lithium's mineralised pegmatite field into EverGreen Lithium's Bynoe Project.

Executive Commentary on Exploration Progress

Intercepting a blind pegmatite that is not outcropping on your first day of drilling shows that we are at the start of something good. Achieving this early proof of concept gives us confidence in our approach for EverGreen Lithium's ongoing exploration programs. The field team and drilling contractors have done a great job getting to this point and the program will move forward quickly from here. The current program's objectives involve delineating prospective pegmatites beneath the thin cover units by testing priority geochemical and geophysical targets. Our team at Bynoe are excited by the early success and eagerly anticipate drill testing the numerous pegmatite targets in the coming weeks. We are now planning a follow-up reverse circulation (RC) program to test depth and strike extensions of the identified pegmatites, and to understand lithium potential beneath the near surface lithium depleted zone.

Exploration Progress Summary and Outlook

EverGreen Lithium's initial aircore drilling at the Bynoe Project has yielded promising results, with the interception of pegmatitic intrusions at the Lunchbox and Frogmouth prospects. This success indicates the potential continuation of Core Lithium's mineralised pegmatite field into EverGreen Lithium's project area. The company's exploration strategy involves ongoing drilling to test high priority geochemical and geophysical targets, along with planned RC drilling to assess pegmatites at depth and along strike. The current program aims to identify additional pegmatites prospective for lithium-spodumene mineralisation and to understand the economic potential of fresh pegmatite material at depth. EverGreen Lithium remains focused on achieving exploration success and contributing to a clean and green future through its ESG-focused approach.