Locksley Resources Limited (LKYRF) Drill Program Operations Commence at El Campo

Locksley Resources Limited (ASX:LKY) (FRA:X5L) (OTCMKTS:LKYRF) provided a significant operational update for its Mojave Project in California, confirming that the project has now transitioned into the drilling program phase.

HIGHLIGHTS

- Activities have commenced for Locksley's maiden drilling campaign at the El Campo Rare Earths Prospect, marking the start of the high-impact exploration phase

- The required reclamation bond for the Desert Antimony Mine (DAM) has been accepted by the Bureau of Land Management (BLM), triggering full approval for the expanded drilling program

- Earthworks and drill site preparation underway at El Campo, with El Campo drilling to be followed immediately by equipment mobilisation to the DAM antimony prospect

- Back-to-back drilling programs ensure a continuous flow of exploration news and data through Q1 and Q2, 2026

- These parallel advancements clear the path for testing both high-grade REE targets (up to 12.1% TREO) and the expanded Antimony Exploration Target at DAM

Earthworks contractors have mobilised to the El Campo Rare Earths Prospect to begin drill site preparations. This marks the formal commencement of the Company's maiden five drillhole diamond drilling program (Figure 2*).

This campaign is designed to test the down-dip continuity of the high-grade REE-bearing breccia zones and shear structures mapped and sampled at surface. The drilling will provide critical geological data to validate the exploration model and confirm the extension of mineralisation at depth.

Locksley also announced, following the end of the government shutdown, the acceptance of the required reclamation bond by the U.S. Bureau of Land Management (BLM) for the Desert Antimony Mine (DAM). This payment was the final condition precedent for the expanded Plan of Operations (POO). With the bond now in place, the DAM diamond drilling program is now fully permitted and ready for execution for up to 16 drill holes for ~2,300 metres (Figure 1*).

To maximise efficiency and reduce mobilisation costs, the Company has structured a sequential drilling campaign where the diamond drill rig at El Campo will mobilise directly to the DAM prospect upon completion of the REE program. This ensures a continuous flow of exploration news and data through Q1 and Q2, 2026, testing the high-grade potential of both strategic commodities.

Kerrie Matthews, Managing Director & CEO, commented:

"We are finishing 2025 with strong momentum. By commencing operations at El Campo and finalising the bond for DAM, we have effectively opened two fronts for exploration. To maximise efficiency and reduce mobilisation costs, the Company has structured a sequential drilling campaign. The diamond drill rig at El Campo will mobilise directly to the DAM prospect upon completion of the El Campo REE program. This ensures a continuous flow of exploration news and data through Q1 and Q2, 2026, testing the high-grade potential of both strategic commodities".

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/UER1RS4K

Kerrie Matthews
Chief Executive Officer
Locksley Resources Limited
T: +61 8 9481 0389
Kerrie@locksleyresources.com.au

News Provided by ABN Newswire