Breaker Resources NL : GL1-Manna Drilling Intercepts Significant Lithium Pegmatites

For personal use only

22 July 2022

The Manager

Market Announcements Office

ASX Limited

PO Box H224 Australia Square

SYDNEY NSW 2001

Dear Sir/Madam

GLOBAL LITHIUM: SIGNIFICANT LITHIUM INTERCEPTS AT MANNA PROJECT

Joint venture partner, Global Lithium Resources Limited (GL1), has announced further positive results from reverse circulation drilling at the Manna Lithium Project, situated within Breaker Resources NL's 1.7Moz# Lake Roe Gold Project. The drilling shows lithium bearing pegmatites extending up to 150m down dip past the current resource.

1. maiden Inferred JORC Mineral Resource of 9.9Mt @ 1.14% Li2O and 49 Ta2O5 ppm^ was previously announced on 17 February 2022. The pegmatite system at Manna remains open in all directions with several mineralised trends extending over a 5km x 1.5km area.

A Mineral Resource update for the Manna Lithium Project is anticipated in Q4 2022 following completion of program underway comprising 20,000m of RC drilling, 4,000m of diamond drilling and metallurgical test work.

Breaker retains a 20% free-carried interest in the Manna Lithium Project with Global Lithium carrying all costs and expenditure to completion of a positive bankable feasibility study (BFS). Breaker is also entitled to milestone payments of up to $20 million.

On behalf of the Board of Directors,

Tom Sanders

Managing Director

For further information on Breaker Resources NL please visit the Company's website at www.breakerresources.com.au, or contact:

Investors/ShareholdersTom Sanders

Tel: [phone]Email: [e-mail]

12 Walker Avenue	Telephone: (08)	9226 3666
WEST PERTH WA 6005	Facsimile: (08)	9226 3668
PO Box 244	Email: [e-mail]
WEST PERTH WA 6872	Web: www.breakerresources.com.au
	ASX: BRB; ACN: 145 011 178

For personal use only

About Breaker Resources NL

Breaker Resources NL (ASX: BRB) is unlocking the potential of a new 1.7Moz greenfields gold district in the Kalgoorlie region of Western Australia, the world's top-ranked mining jurisdiction.

The operational strategy is to develop a robust open pit and underground mine while concurrently drilling to keep

expanding the rapidly growing Resource. Major shareholders include the Electrum Gold Fund (10%), Paulson and Co (10%) and Franklin Templeton (6%).

The key attributes of the Lake Roe Project are its scale and high-grade mining optionality. Gold at the main deposit starts 5m from surface and occurs over a 150m-wide zone in a 3km-long single pit configuration, part of a partially drilled 9km-long gold system. High-grade lodes discovered in the last year have confirmed that open pit mining will transition to underground mining. Open pit PFS studies to date indicate no barriers to development.

Free-carried lithium interests situated within the Lake Roe project have the potential to fund a large part of the capital expenditure expected for a standalone development.

The Ularring Project, situated in the emerging SW Yilgarn mineral province, hosts a known gold-copper system and extensive nickel and PGE potential in a large, previously undrilled mafic-ultramafic belt. BRB's initial drilling is expected to start in the current quarter.

• ^ The information in this report that relates to the Lake Roe Mineral Resource is based on information announced to the ASX on 20 December 2021. The information in this report that relates to the Manna Mineral Resource is based on information announced to the ASX on 17 February 2022. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and, in the case of estimates of Mineral Resources, all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcement
• • 2 ~

ASX Announcement

22 July 2022

only	MANNA DRILLING INTERCEPTS SIGNIFICIANT
LITHIUM BEARING PEGMATITES
	RESOURCE OPEN ALONG STRIKE AND DOWN DIP

Key Highlights

• Reverse circulation (RC) assay returns multiple +10m intercepts in a single drill hole

use	- MRC0040 returned individual intercepts of:
	10m	@ 1.21% Li2O from 50m
	12m	@ 1.71% Li2O from 75m
	11m	@ 1.31% Li2O from 225m
		6m	@ 1.26% Li2O from 251m
• Additional Reverse circulation (RC) assay results
	- MRC0037 returned individual intercepts of:
	 5m	@ 1.64% Li2O from 31m
	 6m	@ 1.32% Li2O from 101m
	 3m	@ 1.06% Li2O from 133m

• Diamond drilling (DD) confirms lithium bearing pegmatites extend up to 150m down dip

past the current resource

• RC assay results correlate well with deeper diamond Lithium bearing pegmatite intercepts

•	Diamond core currently undergoing analysis and logging prior to assay
•	Results from Manna drilling campaign to be incorporated into updated Mineral Resource later
	this year
personal

Growing multi-asset West Australian lithium company Global Lithium Resources Limited (ASX: GL1, "Global Lithium" or "the Company") is pleased to announce further encouraging results from the current drilling program at the Manna Lithium Project, located 100km east of Kalgoorlie. Also refer ASX release

Fordated 28 June 2022 "Manna Drilling Delivers Positive Assays" for earlier RC drilling program results. The Diamond Drilling (DD) campaign is showing that the Manna Lithium bearing pegmatites extend up to 150m down dip past the current resource outline, with even deeper DD planned to test the extent of the known deposit at depth. The initial 4,000m DD program commenced on schedule in June and is being undertaken by experienced drilling contractor, Mt Magnet Drilling (Mt Magnet).

Page 1 of 13 | ACN 626 093 150

ASX:GL1Level 1, 35 Ventnor Ave, West Perth, WA 6005 [e-mail] | www.globallithium.com.au

The RC drilling program's standout result was from a single hole drilled within the known resource returning multiple wide LCT pegmatite intercepts of greater than 10m, further confirming the potential of the Manna Lithium deposit. The RC program has been busy drilling the diamond pre-collar holes before continuing to target the pegmatite along strike in both directions to test the extent of the known resource.

onlyThe Company is expecting the DD crew to start a double shift roster in the next 10 days, further accelerating the results from the drilling program.

The Manna Lithium Project hosts a maiden Inferred Mineral Resource of 9.9Mt @ 1.14% Li2O (100% basis)1. The Company anticipates a Mineral Resource update to follow the drilling program along with additional metallurgical test work in Q4 2022.

useGlobal Lithium Head of Geology, Stuart Peterson commented,

"It's very encouraging to see these great results at such an early stage of the drilling program and they further cement the Company's decision to acquire an 80% interest in the Manna Lithium Project. The addition of the double shift for the Mt Magnet diamond drilling crew will speed up the flow of results from this program and enable early planning for the upcoming metallurgical test work. Further deeper

diamond drilling will allow the Lithium bearing pegmatites to be targeted to a depth that has never been personalreached before at Manna, and potentially add critical mass to the size of the deposit which is due to be

updated later this year." For

1 Refer ASX release dated 17 February 2022.

Page 2 of 13 | ACN 626 093 150 | ASX: GL1 Level 1, 35 Ventnor Ave, West Perth, WA 6005 [e-mail] | www.globallithium.com.au

For personal use only

Figure 1. Mt Magnet Drilling Services drilling the Manna Lithium Project.

Page 3 of 13 | ACN 626 093 150 | ASX: GL1 Level 1, 35 Ventnor Ave, West Perth, WA 6005 [e-mail] | www.globallithium.com.au