Vulcan Energy Resources Limited (Vulcan and the Company) has received approval to carry out a 3D seismic survey from eight local councils across the Company's license area in the German state of Rhineland-Palatinate. Vulcan has received support for its work plan applications from all of the following councils that have voted: City of Landaun der Pfalz; Municipality of Herxheim bei Landau Pfalz; Municipality of Rohrbach; Municipality of Insheim; Municipality of Offenbach an der Queich; Municipality of Billigheim-Ingenheim; Municipality of Impflingen; and Municipality of Erlenbach bei Kandel Pre-design is ongoing for the 3D seismic survey work, which is planned to commence in September 2022. The 3D seismic work will assist with future development drill planning in Vulcan's Phase One areas Vulcan has been granted a new exploration license, increasing the Company's license area in the Upper Rhine Valley Brine Field (URVBF) by 277km2 to a total of 1,440km2 Vulcan already has some existing 3D seismic data over the new exploration license, designated Ried, following an agreement with Rhein Petroleum GmbH to purchase 3D seismic and drilling data in November 2021.

Further 3D seismic data is available and purchase discussions are ongoing.