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Venus Metals Corporation

Youanmi South Lithium Project Strong New Lithium Anomalous Area Identified In Soil Sampling

Venus Metals Corporation Limited (ASX:VMC) (“Venus” or the “Company”) is pleased to provide an update on its Youanmi Lithium Project. Reconnaissance soil sampling totalling 242 samples has discovered a strong lithium (Li) anomaly in the south of E57/1078, located near the GSWA interpreted c. 45km long “pegmatite trap zone” (Duuring 2020 & DMIRS website) wrapping around the western margin of the Youanmi greenstone belt and the Youanmi intrusion (Figure 2), that may indicate the presence of pegmatite-hosted Lithium-Caesium-Tantalum (LCT) mineralization in an area not previously explored for LCT mineralization.

The Li anomaly (>110ppm) measures approximately 1.4km x 0.4km with a maximum Li concentration in the ultrafine soil fraction of up to 305ppm. The Li anomaly remains open to the south and east and is located within the granite – greenstone contact zone of the southern Youanmi greenstone belt. Several pegmatite outcrops are located within and around the lithium-anomalous area.

Figure 1. Outcropping pegmatite

The discovery of a strong Li anomaly (Figure 3) in the southern part of E57/1078, some 30-35km from the known LCT mineralization at Manindi, demonstrates the potential of the largely unexplored pegmatite trap zone to host further LCT mineralization along the granite-greenstone contact. Exploration for LCT pegmatite will therefore target the full extent of the pegmatite trap zone along the Youanmi Greenstone Belt and this will also include re-evaluation of past geochemical data sets and reanalysis of existing sample material.

The recent soil samples were collected at 400x400m and 200x200m spacings along the southern Youanmi greenstone sequence testing approximately 14km of strike. Immediate follow-up fieldwork at the Li anomaly will comprise mapping and rock chip sampling of outcropping pegmatite as well as further soil sampling to the east and south of the Li anomaly to explore its full extent. In addition, reconnaissance geochemical surveys are planned along the pegmatite trap zone, and the granite - greenstone contact zones along the southern Youanmi Greenstone Belt.

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