SunMirror AG: Projects Update

Zug (pta010/17.07.2024/11:45) - Programme of work consisting of 495 proposed reverse circulation drill holes submitted to the Department of Energy, Mines Industry and Regulation (DEMIRS) for Moolyella licence and update on Kingston Keith

Zug, Switzerland 17 July 2024 – As an update to previous communications on the 2nd of May, SunMirror AG (the "Company", "SunMirror", and together with its direct and indirect subsidiaries the "Group", Vienna Stock Exchange: ROR1; ISIN CH0396131929), is pleased to provide further news on its exploration activities in Western Australia.

Moolyella Highlights:

* Following a review of the areas cleared for drilling by the Nyamal Aboriginal Corporation (NAC) site visit (see Press Release dated 2nd May 2024), the Company submitted a Programme of Work (PoW) to the Department of Energy, Mines, Industry and Regulation (DEMIRS) on the 7th June for up to 495 (reverse circulation) drill hole sites.
* DEMIRS has since replied to our application requesting an Exploration Environmental Management Plan (EEMP) that satisfies requirements to minimise the potential to threatened and priority flora and threatened fauna within the PoW area. Rescology Environmental Consultants ("Rescology") in Perth have been engaged to develop the EEMP for the Company and submit it directly to DEMIRS within the next two weeks.

Kingston Keith Highlights:

* Engagement on an Exploration Agreement due to begin with the TMPAC (the traditional landowners in the area covering the northern half of the Company's Kingston Keith licence).

Moolyella Drilling:

* A 5-day Heritage Site visit was completed on the 27th April this year by the NAC along with independent geological consultants retained by the Company from Geonomik Pty Ltd. The objective of the site visit was for Elders of the NAC to visit the proposed drill site locations tentatively planned for drilling later this year and assess whether they were located (or not) in culturally sensitive areas. A total area of 5km2 was covered during the 5-day visit and 4.4km2 (representing 88% of the ground) was assessed by the TAC as being unencumbered for drilling. In May, the Company received the NAC's formal report noting that:
* The proposed work program planned for the Lithium 1 Moolyella Project Area are cleared.
* Nyamal support the drilling in surveyed areas within the indicative boundary of Department of Planning, Lands and Heritage (DPLH) site # 11956 because these are in already disturbed areas with no potential to contain an Aboriginal site.
* Lithium 1 keep ground disturbance to a minimum to limit environmental impacts within the Moolyella Project Area. This includes minimal ground disturbance when re-grading pre-existing tracks in the Moolyella Project Area.
* Following receipt of the above, the Company submitted a PoW to the DEMIRS on the 7th June for up to 495 reverse circulation drill holes (maximum depth of 250 m each) and 9.91 km of track (to access drill site locations).

(For background, the Mining Act 1978 requires that a PoW be lodged in the prescribed manner and approved by the Minister (or a prescribed official) prior to an explorer or prospector conducting any ground disturbing activities with mechanised equipment, such as drilling. Activities must be rehabilitated within six months of completion of ground disturbance, unless otherwise approved in writing by a DEMIRS Environmental Officer. A rehabilitation report must then be submitted to DEMIRS).

In the last week, the Company has heard back from the DEMIRS, requesting that an Exploration Environmental Management Plan (EEMP) is filed to support the PoW. The Company has, therefore, engaged Rescology to develop the EEMP and submit it directly to DEMIRS (on the Company's behalf) within the next two weeks. The Company will provide a further update once the DEMIRS has had a chance to review the EEMP.

Subject to the PoW being approved, the Company will then make a decision on whether or not to carry out a drill program later this year or defer to next year sometime.

Kingston Keith - Exploration Agreement with TMPAC:

The Company is due to commence discussions on an Exploration Agreement (EA) with the TMPAC (the traditional landowners covering the northern half of the Kingston Keith Licence), having recently signed an EA with the Tjiwarl Aboriginal Corporation (TAC), the traditional landowners covering the southern half of the licence.

The signed EA with the TAC means that the Company can start physical exploration on the southern half of the Kingston Keith licence.

Laurent Quelin, Chairman and CFO of SunMirror AG, comments: "Following on from the successful Heritage Site visit completed at our Moolyella licence in May, I am pleased to report that the Company has filed a Programme of Work (PoW) for up to 495 reverse circulation drill holes within the licence area. A further update on our PoW application will be released once the DEMIRS has had a chance to review our Exploration Environmental Management Plan (EEMP).

Having recently signed an Exploration Agreement with the Tjiwarl Aboriginal Corporation (TAC) covering the southern half of our Kingston Keith licence, we look forward to doing the same with the TMPAC, the traditional landowners covering the northern half of our licence."

About Reverse Circulation Drilling:

Reverse circulation drilling or RC drilling, one of the post popular methods of mineral exploration drilling uses rods with inner and outer tubes, where the drill cuttings are returned to surface inside the rods. The drilling mechanism is a pneumatic reciprocating piston known as a hammer driving a tungsten-steel drill bit. RC drilling ideally produces dry rock chips, as large air compressors dry the rock out ahead of the advancing drill bit.

About SunMirror AG

*****

The Group invests into strategic mineral exploration assets with a strong focus on sustainable green battery metals, like cobalt, lithium and nickel, as well as copper and gold deposits in developed markets. The company aims to either produce minerals at a later stage or sell those assets to strategic buyers. SunMirror's key exploration assets acquired in 2020, are currently located in Western Australia but the Group aims to complement its portfolio with additional early-stage mining licenses, focused on Europe with the ultimate aim of providing a secure, stable and sustainable supply of battery raw materials to support the electric revolution. SunMirror's core belief is that exploring for green battery metals must be accompanied by a sustainable approach to mining, thereby aiming to become a reference in terms of "responsible exploration".

The company's shares (ISIN CH0396131929) are listed on the Vienna Stock Exchange (auction trading, ticker: ROR1). For further information, please visit: http://www.sunmirror.com.

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