Introduction to Perpetual Resources' lithium exploration program in Brazil

Perpetual Resources Ltd (ASX: $PEC) has announced the commencement of planning for its maiden systematic exploration program at the Company's recently acquired project in the Itinga area, located in the prolific 'Lithium Valley' region of Minas Gerais, Brazil. The exploration program is scheduled to commence in the coming weeks after the completion of required logistics and program planning activities.

Executive Commentary on Lithium Exploration Program

The initial findings from the recently secured exploration tenement highlight significant exploration potential in an expansive, underexplored region near Brazil's major lithium producers, noting that our limited due diligence rock chipping covered less than 5% of the new tenement areas. Perpetual will now implement a systematic and broader exploration program to understand the initial prospects in greater detail as we aim to develop drill-ready targets later this year.

Summary of Perpetual Resources' Lithium Exploration Program

Perpetual Resources Ltd (ASX: $PEC) has initiated a lithium exploration program in the Itinga area of Minas Gerais, Brazil. The program will focus on the newly acquired project areas adjacent to Perpetual's Itinga Project, with preliminary due diligence samples revealing promising rock chip results. The company aims to prioritize ground reconnaissance, validation of initial findings, enhanced sampling, and mapping initiatives across both licenses. The exploration program is fully funded, and the company plans to select high priority drill targets for later in 2024. The Itinga Project, strategically located near world-class lithium deposits, presents favorable geological settings for lithium mineralization, and the company is optimistic about the exploration potential in the region.