• Arcadia completed exploration analysis identifying several drill targets
• Targets are based on ultramafic rocks with historical mineralisation
• Defined pipeline of drill targets with Sites 2 and 7 as immediate priority
• New ultramafic bodies discovered not previously explored
• Stream sediment sampling indicates potential for additional source rocks

Arcadia Minerals has completed an exploration analysis of its TVC Polymetallic Project, resulting in the identification of several prospective ultramafic rocks that allow for drill target definition. The analysis, which included historical soil and drill data, core re-sampling, hyperspectral interpretation, and LAG geochemical sampling, identified eight ultramafic bodies, six of which are new discoveries. The targets are prospective because they host ultramafic units that correlate closely with ultramafic rocks where historical soil and drill data recorded mineralization, contain bodies of up to ~80m thick, and exhibit geometric features indicative of macro-rhythmic layering forming sequential, saucer-like troughs analogous to the strata-bound Merensky-type setting of the Bushveld Igneous Complex. The Company intends to advance these targets to drilling, subject to funding.