• Soil sampling at Resende Project identifies 56 samples exceeding 400 ppm TREO, with a peak of 1258 ppm
• Follow-up areas identified for further soil sampling and auger drilling
• Anomalous tin in soil values up to 45 ppm from northern lines, potentially indicating a large tin system

Australian Mines Limited ('Australian Mines' or 'the Company' or 'AUZ') is pleased to report further positive anomalous Rare Earth Element ('REE') values in soil samples collected at its Resende Project located in Minas Gerais, Brazil. The soil sampling programme comprised a total of 11 lines, 1km apart with samples taken every 50m along each line, resulting in 158 samples. 56 Total Rare Earth Oxide ('TREO') assays exceeded 400 ppm, with a peak value of 1258 ppm. Two follow-up areas based on continuity of TREO > 400ppm along each sample line have been identified for further soil sampling and auger drilling. The northern lines also returned anomalous tin in soil values of up to 45ppm, 21 times the upper continental crust average, potentially indicating a large tin system. The Company has also completed an initial drilling programme at its Jequie North and Jequie South REE projects located in Bahia, Brazil, and looks forward to sharing the results with investors.