Ardea Resources (ARRRF)

[Chelski]

Resource Update at KNP Cobalt Zone delivers over 100 million tonnes
Significant increase in resource defined in preparation for the PreFeasibility Study mining schedule

An updated KNP Cobalt Zone resource has increased markedly to 108.3Mt at 0.10% cobalt and 0.79% nickel
Includes over 108,000 tonnes of contained cobalt metal and over 856,000 tonnes of nickel metal
Increased tonnages are from Goongarrie area:
Reflects revenue-driven cobalt and nickel focus for mining schedules defined for the PFS on the Goongarrie Nickel Cobalt Project with increased inclusion of nickel blocks
Reported resources are captured within conceptual PFS pit shells
Shallow, lateritic, cobalt-nickel mineralisation is up to 16 km long and 1 km wide.
PFS finalisation progressing
Finalisation of the PFS is progressing and the Company looks forward to reporting to shareholders once this process is complete.