Red Mountain Mining Limited provided an update for its Mt Mansbridge Project located in the Eastern Kimberley region of Western Australia. Prioritised assay results from drilling undertaken at the Solo Prospect have recently been received from the laboratory with Heavy Rare Earth Element enrichment confirmed from drilling at the Solo Prospect. The average ratio of HREO to TREO for the drilling at the Solo Prospect is 66.62%.

Drilling has confirmed the presence of rare earths and in particular the large distribution of Yttrium and the dominance of heavy rare earth elements dysprosium (5.65%) and terbium (0.97%) which suggests the mineralisation is xenotime. Petrological analysis is currently being undertaken by Diamantina Laboratories with results expected in the coming weeks. The following REO intercept (5m 51-56m) from drillhole MMRC002 was returned from the Solo Prospect: 0.316% Total Rare Earth Oxide (TREO), 0.246% Heavy Rare Earth Oxide (HREO), 0.070% Light Rare Earth Oxide (LREO), 0.170% Yttrium Oxide (Y2O3), 0.019% Dysprosium Oxide (Dy2O3).

The Company successfully completed 4 of the planned holes at the project before the drill rig and personnel demobilized from site due to the onset of the wet season within the Kimberley making access untenable. With substantial access tracks now established at the Mt Mansbridge project and heritage clearance achieved, the Company is planning on resuming the drill program once the site is accessible again in early 2022 and anticipates an efficient completion of the program. Mineralisation was associated with a silica altered structure, hosted within a broader package of quartz and quartz-mica greywackes and occasional finer grained pelites.

Remaining assays from the remainder of hole MMRC002 and MMRC001 & 003 from the prospect will be returned and reported upon in February 2022.