South Boulder Mines Ltd is pleased to announce the assay results for the 14 metallurgical drill holes completed in the Colluli Area A resource. The majority of the shallow drill holes were only drilled through the Sylvinite mineralisation layer. Drill hole COL-073 intersected the shallowest high grade Sylvinite intersection to date of 1.25m @ 38.88% KCl from 25.90m. The drilling program was designed to obtain samples to complete the processing testwork for the Colluli DFS. In addition, the information will also be used to provide geotechnical data and orebody geometry to optimise the open pit mining plans and update the resource categories of the Colluli potash deposit.

The drill holes were located in the Area A deposit within the existing JORC/NI43-101 Compliant Mineral Resource Estimate. The large diameter PQ diamond drilling program confirmed the continuity of the Sylvinite mineralization within the deposit and also intersected zones of high grade mineralisation not previously encountered in earlier drilling

The best intersections included the following:
COL-067:       3.70m of Sylvinite @ 28.96% KCl from 43.92m, (including 1.82m @ 40.79% KCl from 43.92m)
COL-068B:     5.90m of Sylvinite @ 34.30% KCl from 39.10m, (including 3.89m @ 42.20% KCl from 41.11m)
COL-071:       3.42m of Sylvinite @ 38.54% KCl from 35.77m
                                    6.61m of Carnalite @ 11.10% KCl from 54.62m                              
                                    8.79m of Kainite @ 20.76% KCl from 61.23m
COL-073:       1.25m of Sylvinite @ 38.88% KCl from 25.90m
COL-074:       2.71m of Sylvinite @ 42.22% KCl from 29.70m
COL-075:       2.22m of Sylvinite @ 34.10% KCl from 35.43m
​                                     8.23m of Carnalite @ 12.93% KCl from 53.51m
                                     9.61m of Kainite @ 17.99% KCl from 61.74m
COL-076B:     5.00m of Sylvinite @ 34.24% KCl from 57.32m

South Boulder’s CEO Paul Donaldson said the results are very pleasing. This is the first Sylvinite mineralisation detected less than 30 metres from the surface. Previous best results demonstrated 30% KCl from Sylvinite at 33 metres depth. Both the high grade and the shallow depth of the Sylvinite offer further operating cost and start up benefits.