Locksley Resources Limited (LKYRF) Receives Drilling Permit for Desert Antimony Mine

Locksley Resources Limited (ASX:LKY) (OTCMKTS:LKYRF) is pleased to announce it has received final permitting approval from the U.S. Bureau of Land Management (BLM) to conduct drilling at its Desert Antimony Mine, part of the Mojave Critical Minerals Project in California.

Highlights:

- Drilling approval received from the Bureau of Land Management (BLM) for exploration of the historic "Desert Antimony Mine"

- Program to test high-grade antimony zones with surface assays up to 46%, including 8 samples over 17%

- Exploration technologies have dramatically advanced, enabling more comprehensive definition of mineral potential

- Antimony is listed as a U.S. critical mineral and drilling aligns with the March 2025 Executive Order to expedite critical mineral development

- The U.S. remains reliant on offshore antimony with no current domestic production

- 82% of US antimony consumption is imported, including 63% from China

- Combined REE and antimony drilling scheduled for Q3, 2025

- Antimony prices for U.S. at record highs of ~US$ 60,000 per metric tonne

The approved program includes three RC drill holes, targeting known highgrade structures identified through historical workings and surface assays.

Drilling is expected to commence in the September quarter of 2025, representing the first modern test of the deposit's subsurface extent.

Unlocking a Historic Mine with Modern Tools

The Desert Antimony Mine, previously operational during 1926-27 and briefly in 1939, remained undeveloped due to the technological limitations and lower demand for antimony during those periods. With advancements in geological modelling and exploration techniques, combined with the increased global focus on securing critical mineral supply chains, Locksley believes the full potential of the deposit may now be unlocked.

U.S. Critical Mineral Status and Federal Policy Support

Antimony has been formally designated a critical mineral by the U.S. government, due to its essential role in defence applications, batteries, semiconductors, and flame retardants.

On 20 March 2025, a landmark Executive Order was signed by the U.S. President to accelerate permitting pathways for domestic critical mineral projects. This Order provides for streamlined BLM assessments, enhanced federal coordination, and eligibility for support under mechanisms such as the Defense Production Act Title III (DPA title 3) and other DoE Critical Materials programs.

Locksley's Desert Antimony drill permit has been expedited by this framework, significantly reducing the approval timeline and positioning the Company for further engagement with U.S. federal funding pathways.

A Strategic Asset in a Shifting Global Landscape

With China controlling 82% of the world's antimony supply and the U.S. lacking a single domestic antimony mine, the Desert Antimony Mine represents an opportunity to assist in restoring sovereign control over this critical mineral. The asset's location, grade profile, and regulatory alignment offer a compelling platform for potential development.

Locksley's broader strategy includes collaboration with U.S. research institutions to support downstream processing innovation and establish credentials for future Department of Defense engagement.

The Desert Antimony drilling will be undertaken alongside Locksley's rare earths program at El Campo, with both campaigns scheduled to commence in the September quarter of 2025. As the Company's maiden drilling campaign at the Mojave Project, this combined program represents a pivotal step in transitioning from surface exploration to subsurface definition across two high priority critical mineral targets.

Locksley Chairman, Nathan Lude, commented:

"Securing this permit is not just a technical milestone but a strategic one. The Desert Antimony Mine has sat dormant for nearly a century, but today we're bringing it back into focus with the benefit of modern exploration techniques and a tailwind of federal policy support. With antimony now recognised as vital to national security and supply chain resilience, this project puts Locksley in a strong position to help fill a domestic supply gap."

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Nathan Lude 
Chairman, Locksley Resources Limited 
T: +61 8 9481 0389

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