Cadence Minerals Plc

("Cadence Minerals", "Cadence", or "the Company")

EverGreen - Confirms LCT pegmatite plus gold potential at Bynoe Project, Northern Territory.

Cadence Minerals (AIM: KDNC) is pleased to announce the successful completion of the 2024 work program at the Bynoe Project by ASX-listed Evergreen Lithium Limited ("EverGreen") (ASX: EG1). Cadence is an 8.74% shareholder in EverGreen. Link here to view the full Evergreen ASX announcement

Highlights:

•      Multiple field programs completed in 2024 have validated the lithium potential at Bynoe, strengthening Evergreen's confidence in the Bynoe Project's potential.

•      RC drilling of Lithium Aircore targets has confirmed the presence of LCT pegmatites

•      Field activities also identified large areas prospective for gold mineralisation, several of which have been drill-tested-assays are due in the first quarter of 2025.

The field programs aimed to build a geological knowledge base, understand the potential for mineralisation, and test several of the priority areas for LCT pegmatites and gold mineralisation.

The work involved geological mapping, rock chip sampling, auger sampling, air-core, RAB and RC drilling. Exploration has identified spodumene-bearing pegmatites in the western part of the lease, adjacent to Core Lithium's Finniss project. Additionally, the potential for gold mineralisation similar to other parts of the Pine Creek Gold Fields has been recognised. Evergreen awaits assays to confirm the presence of gold in targets identified after fieldwork.

Figure 1 Drill rig with associated support trucks at Byone

Field Exploration Programs

Geological Mapping and Rock Chip Sampling Programs

Regional and prospect scale mapping, along with rock chip sampling, was undertaken. The mapping programs identified numerous quartz veins which may be the surface expression of blind pegmatites or potential hosts to gold mineralisation. A total of 217 rock chip samples were taken in the recent program aimed at delineating potential gold hosting quartz veins.

Auger Sampling Program

Auger sampling was carried out in several key areas targeting LCT pegmatites from June to August, aiming to collect geochemical samples for lab analysis and map the host rock types beneath thin cover layers.

The auger program drilled 1,314 m and took 578 samples during 2024. The results identified lithium anomalous zones in the SW of the lease, which received follow-up air-core and RC drilling. Interpretation of the results is ongoing, with re-assaying of selected laboratory pulps for gold (results pending).

RAB / Aircore Drilling

An initial drilling program commenced mid-year and was completed in June and July. This initial program consisted of 6,872 meters and was aimed at testing structures for blind pegmatites in areas not affected by wet field conditions (second-priority areas).

Afterwards, an air core drilling program testing for both LCT pegmatites and gold mineralisation was conducted in September and October across several of the high-priority areas for 6,456 meters.

The completed AC program included: -

·      156 x 2m short holes to test for gold mineralisation across three soil arsenic anomalous trends near

·      Core Lithium's Far East Prospect.

·      32 x 5m vertical short holes to obtain geochemical and lithological samples testing for LCT pegmatites (regional geochemical near surface program to test beneath cover units)

·      109 inclined holes testing for the presence of pegmatites in the west of the lease.

AC drilling identified eleven different pegmatite bodies, two of which, given their timing, received follow-up RC drill testing. The market will be updated once laboratory results are received and interpreted.

RC Drilling

RC drilling was conducted in three areas within EL31774, testing LCT pegmatite and gold targets. This drill program was undertaken late in the year and was interrupted by wet field conditions, which restricted access to many areas. The RC program's aims were:-

•              Test pegmatite targets identified in the AC drilling program;

•              Test areas identified as priority gold targets.

Fourteen holes were completed for 1,799 meters drilled before rain interrupted the program.

Holes EBRC001 to 006 targeted pegmatites, and holes EBRC007 to 014 targeted gold.

Results targeting LCT pegmatites proved positive, with pegmatites intercepted in 4 holes. The best result came from EBRC001, which intercepted 5m of spodumene-bearing pegmatite from 91m. EverGreen is considering following up with deeper drilling in 2025 to better understand the extent of the system.

Drilling tested gold targets noted quartz veins with minor sulphides. Assay results for this program are pending and expected within Q1.

Qualified Person

Kiran Morzaria B.Eng. (ACSM), MBA, has reviewed and approved the information contained in this announcement. Kiran holds a Bachelor of Engineering (Industrial Geology) from the Camborne School of Mines and an MBA (Finance) from CASS Business School.

Cautionary and Forward-Looking Statements

Certain statements in this announcement are or may be deemed to be forward-looking statements. Forward-looking statements are identified by their use of terms and phrases such as "believe", "could", "should", "envisage", "estimate", "intend", "may", "plan", "will", or the negative of those variations or comparable expressions including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the company's future growth results of operations performance, future capital, and other expenditures (including the amount, nature, and sources of funding thereof) competitive advantages business prospects and opportunities. Such forward-looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.  Many factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including risks associated with vulnerability to general economic and business conditions, competition, environmental and other regulatory changes actions by governmental authorities, the availability of capital markets reliance on key personnel uninsured and underinsured losses and other factors many of which are beyond the control of the company. Although any forward-looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions. The company cannot assure investors that actual results will be consistent with such forward-looking statements.