Phase 1 Re-assays Confirm Exceptional Scandium Grades

• Phase 1 of the Scandium Reassay Program completed
• Significant scandium intercepts returned exceptional grades
• New high-grade scandium zone identified 13km southwest of current resource
• Approximately 14,000 additional historical pulps available for re-assay

Mount Ridley Mines Ltd. (ASX: MRD) has announced the completion of Phase 1 of its Scandium Reassay Program at the Grass Patch Project, located approximately 25 kilometers north of Esperance in Western Australia. The program involved re-assaying 3,271 historical air core drill pulp samples for scandium. The results confirmed significant scandium mineralisation outside the established Block 1 and Block 2 Mineral Resource Estimates, with grades materially exceeding the current MRE average. A new high-grade scandium zone was identified approximately 13 kilometers southwest of the current resource, indicating a much larger mineralised system than previously defined. The highest grades were located at the outermost southwestern extent of drilling, and the mineralisation appears to intensify away from the known resource. Phase 1 results will be incorporated into the resource model immediately, with approximately 14,000 additional historical pulps available for re-assay, providing a capital-efficient pathway to further resource growth.

Mount Ridley Mines Ltd. is expected to incorporate Phase 1 results into the resource model immediately.

The company is optimistic about the potential for significant resource growth and the exploration potential of the Grass Patch Complex, with further phases of the reassay program planned.