Golden Mile Resources Limited announced that is has received further rare earth element ("REE") and scandium ("Sc") assay results at its 100% owned Quicksilver clay hosted Nickel-Cobalt Project ("Quicksilver"; "the Project"). Following the discovery of clay hosted oxide REE mineralisation at its Quicksilver Nickel ­ Cobalt Oxide Deposit1 the Company expanded testing for REE mineralisation assaying a further 599 pulp samples
held in storage. Most of the samples were taken from six entire holes while 99 were re-assaying individual samples or composites of various holes selected on previous anomalous cerium ("Ce")
results. Overall, the results from this sampling are positive and the Company will continue expanding the REE re-assaying. The latest results further demonstrate significant clay hosted oxide REO potential at the Quicksilver
Nickel-Cobalt Project. Best results include 4m @ 3,295 ppm TREO (including 1m @ 7,915ppm TREO) and 10m @ 2,548ppm (including 1m @ 3,949ppm). If the REE mineralisation is ionic adsorption ("IA";
"Ionic") then these results can be considered significant. There is some indirect evidence that at least a proportion of the mineralisation maybe ionic, however further metallurgical testing is required to definitively determine if this is the case. This ionic leach metallurgical testing will be completed as part of the Stage 3 metallurgical programme which has already commenced. In addition, the assay results also highlighted the potential for significant scandium mineralisation within the resource area which included high-grade results of 1m @ 165 ppm Sc from 21m and 2m @ 102 ppm Sc from 8m. The Company has previously announced a significant scandium intersection of
55m @ 63 ppm Sc from surface3. The style of mineralisation is regolith hosted scandium bearing oxide after ultramafic/mafic. The Company may also be able to incorporate some initial metallurgical testing
on the scandium component if there is sufficient sample remaining from the current PQ diamond drilling sample currently underway. The primary focus at Quicksilver will continue to be de-risking the proposed process flow sheet for
nickel-cobalt & iron-nickel-cobalt-chromium concentrates and industrial minerals. The process would be low energy using the physical attributes of the free digging ore. The REE and scandium mineralisation is in addition to the defined nickel and cobalt Resource and could be potential by- products.