A five hole, 4C (four inch) core drill program is currently underway at QEM’s flagship Julia Creek vanadium/ oil shale project, located in North Western Queensland, Australia.

The drill program is designed as an infill program to provide data on drill spacing between existing holes and will assist with increasing confidence in the geological model.

The drill program is intended to provide approximately 300 kilograms of bulk ore material for planned processing studies. Results from the drill program will also be input into the geological model, with the objective of increasing the geological confidence of the deposit.

As announced on 7 May 2019, QEM undertook a 26-kilometre 2D seismic program to survey the geological structure of the seams across the project area, with data also being input into the geological model, again with the aim of increasing the geological confidence of the deposit. The results from the drill program and the seismic data gathered will play an important role in the Company's plans to update the geological resource, as well as the assessment of potential mine designs and also in the process of planning the Pre-feasibility study for the Julia Creek project. It is anticipated that the final drilling data results after assays, will be completed by July 2019.

“With the seismic survey recently being completed, the Company is progressing with the current drill program,” commented QEM Limited Executive Director David Fitch.

“Similarly, to the seismic survey, the current drill program will provide valuable data which will be input into the geological model, which well positions the Company in the further development of this exciting opportunity.”