EQS-News: SunMirror AG: Sampling Results Moolyella Field Campaign Feb 2022

Sampling results from filed campaign at SunMirror's Moolyella Lithium Project confirm potential for both Lithium and Tin

SunMirror AG is pleased to announce rock sample results of the field campaign Arnel Mendoza (Principal Geologist of Geonomik Pty Ltd) and Essam Wahdan (Geological Consultant) performed at SunMirror's Moolyella Lithium Project in July 2021.

A total of twenty-eight rock samples were collected from the property and analysed for 23 elements, including lithium (Li), tin (Sn), tantalum (Ta), cesium (Cs), beryllium (Be), and rubidium (Rb). Industry best practices were followed during the collection and dispatch of the samples. Standards and blanks were not employed during sampling. All material was assayed at NAGROM analytical laboratory based in Kelmscott, Western Australia. A summary of the assay results is shown in the table below:

Summary statistics of select elements from rock samples

The highest lithium, tin, cesium, and rubidium concentrations were recorded from one spodumene- bearing pegmatite from an area in the licence called Pegmatite Gully (1.33% Li₂O), and the second highest sample was 0.67% Li₂O from an area called Eluvial Gully. Each of the other target areas sampled contained material with lithium concentrations greater than 0.1% Li₂O, with spodumene only identified in samples from Pegmatite Gully and Eluvial Gully.

Tin Potential

The Moolyella site has a rich tin history. Alluvial cassiterite (SnO₂) was first identified in the Moolyella area in 1898 during exploration for alluvial and bedrock gold. Mining took place from 1898 until 1986 in the ore field, with a few brief hiatuses, and it is estimated that nearly 8,000 tonnes of tin concentrate was recovered. The tin grades at Moolyella, 2.40 kg/m³, represent some of the highest alluvial tin grades in the World. Approximately 141 tonnes of tantalite ((Fe,Mn)Ta2O6) ore and concentrates were also recovered in these operations, confirming the presence of tantalum in the area. Mining and exploration focused exclusively on tin.

The source of the tin mineralization is the Moolyella Monzogranite (2830 Ma), which has intruded older Archean orthogneisses of the Fig Tree Gneiss Group (3490-3460 Ma) and the Johansen Monzogranite (3131-3307 Ma). The Fig Tree Gneiss and the Johansen Monzogranite comprise the Mount Edgar Batholith, which is a gneiss-granitoid complex surrounded by contemporaneous greenstone belts. The highly evolved (fractionated) Moolyella Monzogranite formed aplite dykes, greisen, and pegmatite sheets, all of which contain elevated concentrations of incompatible elements such as tin (Sn), tantalum (Ta), niobium (Nb), tungsten (W), and lithium (Li). Weathering of low-angle pegmatite sheets (varying in thickness from a few centimetres to 3 m) and greisen zones at the edge of the monzogranite resulted in the formation of the Sn placer deposits.

In summary, the Moolyella licence area is considered highly prospective for presence of additional lithium-bearing pegmatites. As next step, a two-stage, contingent, work program is recommended for

the property. Remote sensing structural/alteration study, geological mapping, mineralogical studies, lithogeochemical sampling, airborne geophysical (magnetic, radiometric) surveying, and limited auger drilling are proposed for Phase One. RC drilling, to follow in Phase two.

Dr Heinz Kubli, SunMirror's CEO; "In summary, the Moolyella licence is considered being highly prospective for presence of additional lithium-bearing pegmatites. We plan to commence the follow- up work program as recommended by our experts. Both Lithium and Tin are strategic minerals in great demand and expected to profit from the growth of electrification of transport and the growing use of renewable energy."

The Moolyella Lithium Project consists of one exploration licence covering an area of approximately 93 km² and is located in East Pilbara Shire, Pilbara Region, Western Australia. The licence is owned by Lithium 1 Pty Ltd, which is a wholly owned subsidiary of SunMirror AG.

SunMirror AG has not yet carried out any drilling at Moolyella. As such the project does not yet have an established mineral resource according to JORC (The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves).

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About SunMirror AG
The Group invests into strategic mineral exploration assets with a focus on sustainable green battery metals, like cobalt, lithium and nickel, as well as Iron Ore 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 is differentiated by taking a "mine-to-market" approach to sustainability across the value chain, creating a mining industry "best practice."

The company's shares (ISIN CH0396131929) are listed on the Vienna Stock Exchange (official market, ticker: ROR1) and are traded on the regulated unofficial markets Frankfurt, Düsseldorf and Berlin (ticker: ROR) as well as on tradegate and Xetra. For further information, please visit: www.sunmirror.com.