Quarterly Activities and Cashflow Report (March 2025)

SUMMARY

• During the Quarter, iTech Minerals Ltd (“iTech” or “the Company”) continued to assist Sociedad Química y Minera de Chile through its subsidiary SQM Australia (Pty) Ltd, part of the SQM international lithium division (“SQM”), with its due diligence and agreement of a Joint Venture, Farm-in and Mineral Rights agreements on the Company’s Reynolds Range Lithium Project in the Northern Territory.
• Preparations were made to commence drilling at the Scimitar Copper-Gold Prospect at Reynolds Range. All government and land access approvals were obtained, with drilling commencing on 8 April 2025.
• Two diamond drill holes are planned to test two substantial moving loop EM anomalies associated with regionally anomalous polymetallic soil anomalism and outcropping copper-gold-silver-lead and antimony mineralisation identified in rock chip sampling. Drilling is expected to be completed in early May with assays to be received in following weeks.
• iTech has contracted GAP Geophysics to undertake a large program of gradient array induced polarisation, dipole-dipole induced polarisation and moving loop electromagnetic surveys. The surveys are predominately targeting gold mineralisation at various gold prospects across the Reynolds Range tenements and are expected to commence in the first week of May.
• Graphite drilling at the Balumbah Graphite Prospect was completed during the quarter. A total of 9 holes for 579m were drilled on the Balumbah electromagnetic anomaly. The main source of the EM anomaly was determined to be saline ground water overlying low grade graphitic schist.