Ann: Exceptional Polymetallic Rock Chip Assays, page-2

A well-endowed mineralised district. Nice

11 April 2018 EXCEPTIONAL POLYMETALLIC ROCK CHIP ASSAYS FROM GOODSPRINGS COBALT & BASE METALS PROJECT

Highlights
Exceptionally high grade polymetallic results received from ALS Laboratory in Reno, Nevada, USA
Cobalt assays (CPL18015) reach top threshold limit of 10,000ppm (1% Co) and will be re-assayed to determine actual cobalt grades
Cobalt assay highlights : >1% , 0.855% , 0.115%  Copper assay highlights : 22.50% , 15.20% , 5.07%  Zinc assay highlights : > 30.0% , 24.90% , 4.27%  Lead assay highlights : >20.0% , 6.07%  Photogeological interpretation commissioned to define structural controls to generate targets

Exploration work ongoing at the highly prospective Whale Mine Tyranna Resources Limited (ASX: TYX) (‘Tyranna’ or ‘the Company’), previously announced that it had entered into a binding option agreement to acquire private company, US Cobalt Pty Ltd (US Cobalt), the owner of Goodsprings Cobalt and Base Metals Project, located in the State of Nevada, USA. The US Cobalt acquisition is part of Tyranna’s diversification strategy aimed at capitalising on the battery minerals revolution which has seen the rapid rise in the LME price of Cobalt (from US$23,000/ton in March 2016 to US$91,000/ton on 6th April 2018). Managing Director, Bruno Seneque said “these first phase exploration results add considerably to the upside potential of the Goodsprings project and have provided the impetus to accelerate the exploration effort. Tyranna exploration team are aggressively exploring the area around the Whale mine because it reported significant mineralisation from previous production records and the recent assays, is easily accessible and has not been subjected to any modern exploration techniques. We understood from the due diligence that the Goodsprings area is a well-endowed mineralised district for Cobalt and base metals with these assay results confirming the high grade nature of the project” The recent rock chip results (see Table 1) have confirmed the confidence shown by the TYX technical team that the Goodsprings area exhibits a polymetallic suite of minerals hosted in vein, bedded, and replacement deposits throughout the project area. The high grade Cobalt sample numbers CPL18008 & CPL18015 are in the form of “Stainierite Co3+O(OH) “ (see Figure 1).