Update on Mt Clere tenement exploration

Krakatoa Resources Limited (ASX: $KTA) has identified a new niobium (Nb) and rare earth element (REE) anomalous catchment area at the Mt Clere tenement in Western Australia. The target area, coinciding with a large 15km long regional gravity high, has the potential to host hidden alkaline intrusive systems such as carbonatite, obscured by extensive sand and laterite cover. The Company is currently conducting an infill soil sampling program to further explore this exciting new target.

Executive commentary on exploration progress

During 2023 we advanced our exploration which included a regional review of the unexplored areas. This initiative identified further geochemical and geophysical targets which were systematically followed up in the last field season. This work has filled in the knowledge gaps with low-cost geochemical sampling and mapping. The Company has since been busy processing this data and interpreting the results, which has proved successful in identifying and elevating multiple areas of interest. One of these is the Stone Tank - Bullbadger area, where several coincident geological and geophysical features align with new geochemical data. We believe we have narrowed down the focus area for finding potential carbonatite intrusives, given the favourable carbonatite pathfinder geochemistry results combined with the supporting geophysical signatures. The extensive regional gravity high is favourably located over an area of discrete magnetic features within a major structural corridor close to the major craton margin. We are now working to prove up the extended area with additional soil geochemistry and possible detailed geophysical surveys in the current field season.

Exploration summary and outlook

Krakatoa Resources' identification of a new niobium-ree gravity target at the Mt Clere tenement marks a significant milestone in the Company's exploration efforts. The anomalous Nb-REE assays and the extensive 40km long target catchment area present an exciting opportunity for the discovery of alkaline intrusive systems, including carbonatites. The Company's ongoing infill soil sampling program and the review of stream and soil assay analysis, along with rock chip assays, demonstrate a comprehensive approach to further explore and define the potential of the target area. With the identification of elevated rare earth element concentrations and pathfinder elements, Krakatoa Resources is strategically positioned to pursue additional geophysical surveys and potential drill testing to advance the exploration of carbonatite intrusives. The Company's proactive approach and focus on proven geological indicators reflect its commitment to unlocking the full potential of the Mt Clere tenement, aligning with its corporate strategy of resource discovery and development.