28 April 2025

New Frontier Minerals Limited

("NFM" or the "Company")

New prospect "Paddington" identified at Harts Range, NT

New Frontier Minerals Ltd (ASX: NFM), is pleased to announce the successful return of our geological team to the Harts Range Project, located 140km north-east of Alice Springs in the Northern Territory. The team have commenced field investigation of the 46 targets identified through our recent airborne survey^1,2. This initiative marks a significant step in ongoing exploration efforts aimed at targeting high value critical mineral resources in the region. 

We have also identified a promising new project area, "Paddington," located just 200m west of our existing Bobs Prospect. Our team has conducted surface sampling in Paddington, and we eagerly await the assay results, which will provide further insights into the mineral composition of this area.

In addition to the new project area, New Frontier Minerals has taken a proactive step in expanding its operational footprint by applying for a new tenement, EL34109 and EL34110, at Harts Range. This expansion reflects our commitment to exploring and developing high-potential mineral resources in the region.

Highlights:

·   Geological team returns to Harts Range to commence investigation of the 46 targets identified from airborne geophysical survey^1,2

·    New prospect "Paddington" has been discovered, located 200m west of Bobs Prospect

·    Surface samples have been collected from Paddington and are awaiting assays

·    New Frontier Minerals has extended its footprint at Harts Range with new tenement applications EL34109 and EL34110

·    China's restrictions on Heavy Rare Earths exports³ could generate upward price pressure, which is positive for developing new supply chains from jurisdictions like Australia

·    New Frontier Minerals is undertaking a review of 46 targets^1,2 with plans to drill test priority targets as soon as possible

Ged Hall, Chairman, commented: "We are excited to have commenced field activities to follow up the 46 priority targets identified through our recent airborne survey at the Harts Range Project.

The recent discovery of the Paddington Prospect located 200 metres to the west of Bobs has highlighted the value of the airborne geophysics as a regional exploration tool. The team has conducted mapping and surface sampling at Paddington, and we eagerly await the assay results, which will provide further insights into the prospectivity of this area for Heavy Rare Earths.

In addition, New Frontier Minerals has expanded its footprint by applying for new tenure at Harts Range. This expansion reflects our commitment to exploring and developing high-value critical mineral resources in the region."

AIRBOURNE GEOPHYSICS GUIDES EXPLORATION EFFORT

During the month of April 2025, the NFM geological team commenced field activities at the Harts Range Project. The primary aim of the field campaign was to expedite exploration over untested areas within the tenure and identify additional radiometric targets and potential extensions to known uranium, niobium, and heavy rare earths mineralisation.

As uranium serves as a key pathfinder element, it plays a crucial role in guiding the exploration efforts to vector into areas that host heavy rare earths mineralisation. Follow up of an enhanced radiometric imaging has identified a promising new prospect area, "Paddington," located just 200m west of the existing Bobs Prospect (Figure 1).

Field inspection at the Paddington Prospect has identified a plagioclase and mica rich pegmatite outcrop which has intruded through an amphibolite unit. The pegmatite outcrop is seen to pinch and swell with a maximum width of 3m and is up to 40m in length and strikes east-west (Figure 5). Pegmatite float downhill either side of outcrop is common. Readings using the RadEye ranged from 0.1 μSv to 70 μSv for isolated areas at the Paddington Prospect. Three separate rock chip samples (HRS019, HRS031, and HRS032) were collected from depths of 15-30 cm and across a 260m interval from outcropping pegmatites at the Paddington Prospect.

Figure 1: Location of the Paddington Prospect to the west of Bobs Prospect (Source: NFM Team)

In total, 14 rock chip samples (HRS019 - HRS032) were collected during the field campaign and have been submitted to Intertek Perth (Malaga) Laboratory to test for a broad multi-element suite. All samples and field data have been recorded and noted in Appendix A.

 Figure 2: Sample HRS019 (506109E, 7447590N)     Figure 3: Sample HRS031(506099E, 7447594N)

Note to Figures 2, 3, 4 and 5:

Cautionary Statement - Visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses where concentrations or grades are the factor of principal economic interest. Visual estimates also potentially provide no information regarding impurities or deleterious physical properties relevant to valuations.

The nature of the mineral occurrence of samarskite is seen as occasional scattered orthorhombic crystals. The minerals observed are found in small quantities in the host pegmatite rock. The estimated mineralisation abundance ranges from 0-3% in HRS019, 0-5% in HRS031, and 0-2% in HRS032. The anticipated timing for release of assays results related to the visual estimates is 1-2 weeks.

Figure 4: Sample HRS032 (505848E, 7447574N)

Figure 5: Outcropping pegmatite at the Paddington Prospect, 506109E 7447590N (Source: NFM Team)

EXPANDS FOOTPRINT AT HARTS RANGE

New Frontier Minerals has taken a proactive step in expanding its operational footprint by applying for two new tenements (EL34109 & EL34110) at Harts Range. The new applications are contiguous and located immediately to the north of granted Harts range tenement EL32046. This expansion reflects our commitment to exploring and developing high-potential mineral resources in the region.

Figure 6: NFM landholding and operational footprint at Harts Range (Source: NFM Team)

Our previous announcements have highlighted the presence of exceptionally high-grade heavy rare earths, uranium, and niobium in our surface sampling results. Notably, analyses from the Cusp and Bobs Prospects have revealed a strong dominance of high-value heavy rare earth elements (HREE), with results indicating up to 11.75% Dysprosium Oxide and 1.87% Terbium Oxide within the Total Rare Earth Element (TREO) mix2.

Recent restrictions by China on the export of critical heavy rare earth minerals3could place upward pressure on prices, which is likely to encourage the development of new supply chains. In the Board's view, this geopolitical shift underscores the importance of securing domestic supply chains for rare earth materials, which are essential for various high-tech and defence applications.

NEXT STEPS

Over the past five months, New Frontier has successfully executed its exploration strategy at Harts Range. With the completion of the geophysical interpretation and the receipt of target generation data, NFM has now completed exploration stages 1 through 4 (Figure 7).

Figure 7: Staged and systematic exploration timeline for Harts Range (Source: Company Presentation4)

New Frontier Minerals is committed to a thorough review of the 46 targets1identified during its exploration program. The Company's goal is to drill test these targets as soon as possible, enabling NFM to unlock the potential of its mineral assets and contribute to the growing demand for rare earth elements.

REFERENCES

1)      ASX Announcement (31 March 2025) Geophysical interpretation identifies 46 HREE-Nb-U priority targets at Harts Range, NT

2)      ASX Announcement (9 April 2025) Heavy Rare Earths Dominant at Harts Range Project, Northern Territory

3)      https://www.reuters.com/world/china-hits-back-us-tariffs-with-rare-earth-export-controls-2025-04-04/

4)      ASX Announcement (13 March 2025) Building a legacy on solid foundation

For further information please contact 

About New Frontier Minerals

New Frontier Minerals Limited is an Australian-based focussed explorer, with a strategy to develop multi-commodity assets that demonstrate future potential as an economic mining operation. Through the application of disciplined and structured exploration, New Frontier has identified assets deemed core and is actively progressing these interests up the value curve. Current focus will be on advancing exploration activity at the Harts Range Niobium, Uranium and Heavy Rare Earths Project which is circa 140km north-east from Alice Springs in the Northern Territory.

Other interests include the NWQ Copper Project, situated in the copper-belt district circa 150km north of Mt Isa in Queensland and the Broken Hill Project in western New South Wales.

New Frontier Minerals is listed on the LSE and ASX under the ticker "NFM".

Competent Persons Statement

The scientific and technical information in this announcement, which relates to exploration results and the geology of the deposits described, is based on information compiled and approved for release by Mark Biggs. Mark Biggs is a Member of The Australasian Institute of Mining and Metallurgy (AusIMM Member # 107188) and meets the requirements of a Competent Person as defined by the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code 2012 Edition). Mark Biggs has 35 years of experience relevant to Rare Earth Elements (REE), industrial mineral copper mineralisation types, as well as expertise in the quality and potential mining methods of the deposits under consideration. Additionally, he has 25 years of experience in the estimation, assessment, and evaluation of exploration results and mineral resource estimates, which are the activities for which he accepts responsibility. He also successfully completed an AusIMM Online Course Certificate in 2012 JORC Code Reporting. Mark Biggs is a consultant with ROM Resources and was engaged by New Frontier Minerals Limited to prepare the documentation for several prospects, specifically those within the Harts Range Prospects upon which the Report is based.

Furthermore, the full nature of the relationship between himself and New Frontier Minerals Limited has been disclosed, including any potential conflicts of interest. Mark Biggs is a director of ROM Resources, a company that is a shareholder of New Frontier Minerals Limited, and ROM Resources provides occasional geological consultancy services to New Frontier Minerals Limited.

The Report or excerpts referenced in this statement have been reviewed, ensuring that they are based on and accurately reflect, in both form and context, the supporting documentation relating to exploration results and any mineral resource estimates. The release of the Report and this statement has been consented to by the Directors of New Frontier Minerals Limited.

Forward Looking Statements

Certain information in this document refers to the intentions of New Frontier Minerals Ltd, but these are not intended to be forecasts, forward-looking statements or statements about future matters for the purposes of the Corporations Act or any other applicable law. The occurrence of events in the future is subject to risks, uncertainties and other factors that may cause New Frontier Minerals Ltd's actual results, performance or achievements to differ from those referred to in this announcement. Accordingly, New Frontier Minerals Ltd, its directors, officers, employees, and agents, do not give any assurance or guarantee that the occurrence of the events referred to in this announcement will occur as contemplated. The interpretations and conclusions reached in this announcement are based on current geological theory and the best evidence available to the authors at the time of writing. It is the nature of all scientific conclusions that they are founded on an assessment of probabilities and, however high these probabilities might be, they make no claim for complete certainty. Any economic decisions that might be taken based on interpretations or conclusions contained in this announcement will therefore carry an element of risk. The announcement may contain forward-looking statements that involve several risks and uncertainties. These risks include but are not limited to, economic conditions, stock market fluctuations, commodity demand and price movements, access to infrastructure, timing of approvals, regulatory risks, operational risks, reliance on key personnel, Ore Reserve and Mineral Resource estimates, native title, foreign currency fluctuations, exploration risks, mining development, construction, and commissioning risk. These forward-looking statements are expressed in good faith and believed to have a reasonable basis. These statements reflect current expectations, intentions or strategies regarding the future and assumptions based on currently available information. Should one or more of the risks or uncertainties materialise, or should underlying assumptions prove incorrect, actual results may vary from the expectations, intentions and strategies described in this announcement. No obligation is assumed to update forward-looking statements if these beliefs, opinions, and estimates should change or to reflect other future developments.