East Salinas Drilling Yields Multiple High-Grade REE Intercepts with Up to 1.27% TREO

Diamond Drilling Confirms High-Grade REE Mineralisation at East Salinas

Enova Mining Limited (ASX:ENV) has announced assay results from the remaining 10 holes of its maiden 14-hole diamond drilling program at the East Salinas project in Minas Gerais, Brazil. The results confirm pervasive rare earth element (REE) mineralisation within thick surface saprolite clays amenable to ionic adsorption clay (IAC) leaching, hosted within the Medina Intrusive Granite Complex.

Key intercepts include 17 metres at 5,000 ppm total rare earth oxides (TREO) with 19% neodymium-praseodymium oxide (NdPr) from surface (hole EAS-DD-0006), and a peak grade of 12,732 ppm (1.27% TREO) at 24% NdPr from 7 to 8 metres depth in the same hole. Other notable intercepts span 9 to 15 metres with TREO grades ranging from approximately 1,400 to 3,300 ppm and NdPr ratios between 12% and 25%, confirming a substantial mineralised footprint across multiple hill outcrops including Bald Hill, Naked Hill, Hairy Hill, and Flat Hill.

Geological Setting and Exploration Strategy

The mineralisation is hosted within the Medina Intrusive Granite Complex, consistent with granite-derived IAC systems. Drillhole lithological data indicate strong geological continuity of saprolitic clay over multiple intrusive bodies, supporting the interpretation of a large, coherent intrusive-hosted REE system. The saprolite veneer, ranging from 8 to 25 metres thick, overlies granitic intrusive rocks and forms part of an autochthonous weathering profile.

Enova’s exploration approach integrates geophysical data, hyperspectral analysis, and targeted drilling to assess the scale, geometry, and continuity of mineralisation. The company’s Brazilian geology team, led by qualified geologist Fernando Moya, has been instrumental in advancing exploration through detailed mapping, systematic sampling, and field validation.

Metallurgical Test Work and Leach Recovery

Metallurgical test work conducted by SGS Geosol Laboratory in Vespasiano employed a standard IAC leach protocol on 174 saprolite samples from drill holes EAS-DD-0002 to EAS-DD-0014. The leach tests provide initial indications of IAC leach performance, with recoveries varying across samples. Thorium and uranium leach recoveries were negligible, suggesting minimal radioactive contaminants in the saprolite.

Further metallurgical testing is planned to optimise leach conditions and improve recoveries, leveraging local research facilities to fast-track development. The promising leach results support the potential for cost-effective extraction of critical rare earths from the saprolite horizon.

Next Steps and Broader Portfolio Context

Enova plans to conduct an auger drilling program to better define the extent and thickness of saprolite mineralisation at East Salinas. Auger samples will be submitted for IAC leach testing to assess recovery consistency. Additionally, a deep diamond drilling program at the nearby Charlie Creek project is scheduled for late April to follow up on previously reported mineralisation exceeding 1% TREO at depth.

The East Salinas project adds significant scale and strategic value to Enova’s rare earth portfolio in Brazil, complementing other projects such as Juquiá, CODA North, and CODA Central. Brazil’s stable and investor-friendly mining jurisdiction, particularly in Minas Gerais, supports Enova’s disciplined and scalable exploration strategy focused on high-impact outcomes.

This announcement follows Enova’s recent capital raise to boost drilling and metallurgical studies, which has provided the company with funds to accelerate exploration activities across its key projects.

Caution on Preliminary Nature of Results

While the assay results confirm significant REE mineralisation, the company notes that these exploration results are preliminary. No Mineral Resource has yet been defined, and the true widths of mineralisation remain uncertain due to vertical drilling orientation. Permit transfers for the East Salinas tenements are in progress but not finalized. Forward-looking statements regarding future exploration and development are subject to risks and uncertainties, and investors are cautioned not to place undue reliance on early results.