Askari Metals Reveals Strong High-Grade Copper-Silver Assays from Callawa Project

Askari Metals Limited (ASX: AS2) ("Askari Metals" or "the Company") is excited to report that it has reviewed assay results from earlier field exploration programs at its wholly-owned Callawa Project (E45/5842), situated around 90km north-east of Marble Bar in the eastern Pilbara region of Western Australia.

Assay results have revealed significant high-grade silver mineralization at the Callawa project, coinciding with copper mineralization. Initial mapping and rock chip sampling by the Company identified silver mineralization with assay results of 11.1 g/t Ag, 8.25 g/t Ag, and 6.42 g/t Ag, alongside high-grade copper mineralization with assay results of 6.78% Cu, 4.35% Cu, 2.02% Cu, and 1.85% Cu. Historical rock sampling at the Callawa project returned copper results ranging from 2.5% to 19% Cu, with notable samples grading up to 9.35% Cu with 25.9 g/t Ag and 7.63% Cu with 15.7 g/t Ag. These findings suggest a correlation between silver and copper mineralization. The Company plans to conduct further petrographic testing to better understand the relationship between silver and copper and to define the polymetallic potential of the Callawa project.

The Company's initial exploration efforts have been concentrated on the core Callawa project license (E45/5842). Acknowledging the substantial mineralization potential of the Callawa project, which includes copper, silver, and nickel, the Company is also advancing the grant of an adjacent license, E45/6053. This adjacent license shares the same geological characteristics as the core Callawa project license and is believed to be a continuation of the magnetic structures identified thus far as hosting high-grade copper and silver mineralization.

Mr. Gino D’Anna, Managing Director, shared insights on the exploration potential of the Callawa project, stating, "Callawa presents an opportunity that has been largely overlooked, with remarkable historical exploration findings revealing high-grade copper and silver mineralization. These findings underscore the substantial exploration possibilities within the project area. Our initial exploration endeavors have unearthed additional high-grade copper and silver mineralization at the surface, expanding the known mineralization zone within the tenement. The extent of mineralization along the strike remains open, and we plan to conduct follow-up work to delineate areas of interest and potentially extend the strike beyond the surface outcrop area identified. The Company is in the final stages of planning a second-phase soil auger campaign on a closely spaced grid to follow up on the identified copper and silver mineralized targets. Additionally, while advancing our exploration efforts, the Company is also making progress toward obtaining an adjacent exploration license, which will further enhance the exploration potential of this already promising project area. We are eager to embark on further exploration of these new targets and are committed to keeping shareholders informed of our progress."

Situated around 85km northeast of Marble Bar, the Callawa Project spans over 167km2 of the Pilbara Craton. Previous rock sampling revealed notable copper findings, with assays showing concentrations of up to 19% Cu, while data analysis highlighted the potential presence of nickel and silver within the tenement. Recently, the Company concluded a comprehensive soil auger program, collecting 864 soil samples from the promising region. Findings from this initiative unveiled significant nickel prospects in the targeted zones, with readings reaching 1,808ppm nickel and 1,607ppm nickel.