• Application lodged over Dingo Pass REE Prospect adjoining Tower REE resource of 101Mt @ 801ppm TREO
• 2-hole diamond drill program completed at Stone Tank Nb-REE Prospect, partially funded by $220,000 EIS grant
• Drilling confirmed clay hosted REE mineralisation extends at least 8km east of Tower deposit

Krakatoa Resources has announced the completion of a 2-hole, 1,000m diamond drilling program at the Stone Tank Prospect, located within the Company's 100%-owned Mt Clere Project. The drilling was partially funded through a $220,000 EIS grant from the Western Australian Government. The Company has also lodged an application (E52/4498) to expand its landholding east of the Tower REE deposit, where recent exploration has confirmed that clay-hosted REE mineralisation extends at least 8km further east. The 2022 air core drilling program at Dingo Pass, which adjoins the Tower deposit, returned significant intercepts including 3m @ 4,512 ppm TREO, 4m @ 3,700 ppm TREO, and 9m @ 1,885 ppm TREO. This has expanded the Tower mineralisation footprint by at least five times. The drilling at Stone Tank focused on the Jagger and Richards targets, where high-density gravity anomalies were identified. While the geology encountered was largely siliceous, with only limited alkaline mineralisation, the drilling did intersect sulphide mineralisation. Assay results from the Stone Tank drilling are expected in the next quarter.

The Company is excited to have completed the drilling at Stone Tank and looks forward to receiving the assay results. The expansion of the landholding at Dingo Pass, which adjoins the Tower REE deposit, is a strategic move that will significantly increase Krakatoa's clay-hosted REE footprint in Western Australia.