RLC stakes additional ground for lithium in Northern McDermitt Caldera, Oregon USA

Reedy Lagoon Corporation Limited has successfully staked a further 192 placer claims over an area of 1,557 hectares to increase its Alvord project in the Northern McDermitt Caldera located in Oregon, USA.

The additional ground staking is part of a deal which gives the Company access to a number of lithium targets generated by GoldPlay LLC in the Northern McDermitt Caldera area. The additional ground is a result of GoldPlay's early exploration activities in the area and it provides a significant boost to the Company's Alvord lithium project announced 3 weeks ago with the staking of claims located to the south of Alvord Lake.

The project is targeting lithium brines associated with geothermal hot springs and playa lakes which coincide with the axis of a rifted valley along the margin of the Northern McDermitt Caldera. The project area is located within three interconnected enclosed basins that exhibit internal drainage. The claims cover the marginal zone of the caldera, adjacent valley floor and playa lake system.

The areas staked by RLC coincide with the central axis of a rifted valley that post-dates the formation and collapse of the Northern McDermitt caldera. The Northern McDermitt caldera is located 25 kilometres north west of the McDermitt Caldera1 where Lithium Americas Corp (NYSE:LAC) is evaluating the Thacker Pass lithium-clay deposit and Jindalee Resources Limited (ASX:JRL) is evaluating the McDermitt lithiumclay deposit. At both of these deposits the primary source of lithium is the volcanic ash that has been deposited within a crater lake formed after a very large volcanic eruption and subsequent collapse of the caldera.

The ground staked by RLC, including the current staking under the deal with GoldPlay and the Company's earlier staking is in the outer margin of the Northern McDermitt caldera and coincides with a zone of high heat flow2 due to geothermal hot springs that are controlled by major north-south striking faults. The high heat flow and geothermal activity together with the wide distribution of volcanic ash from the eruption of multiple calderas over geologic time is seen as a favourable environment for the formation of lithium enriched brines and lithium clay deposits.

Contact:

Geof Fethers

Tel: [phone]

Email: reedylagoon.com.au

Company Statement

Where Exploration Results have been reported in earlier RLC ASX Releases referenced in this report, those releases are available to view on the INVESTORS page of reedylagoon.com.au. The Company confirms that it is not aware of any new information or data that materially affects the information included in those earlier releases. 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

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