Stockwatch

MORELLA CORPORATION LTD
Symbol	ALTAF
Recent Sedar+ Documents

Morella Corporation Limited (ALTAF) Mt Edon Drilling Reinforces Broad Rubidium Mineralisation Ahead of Maiden Resource

2026-06-01 23:26 ET - News Release

Perth, Australia, June 2, 2026 - (ABN Newswire) - Morella Corporation Limited (ASX:1MC) (OTCMKTS:ALTAF) (FRA:HDG0) announced the first assay results from the recently completed Reverse Circulation (RC) drill program at the Mt Edon Project in Western Australia, with broad rubidium mineralisation intersected across all pegmatites tested. The results form part of the dataset being used for the Company's maiden JORC Mineral Resource Estimate.

Initial results from the recent development drilling program at the Sophie Prospect have returned broad mineralised intercepts up to 54m @ 0.17% Rb2O, including high-grade assays up to 0.51% Rb2O. (Table 1)*

Highlights

- Recent drilling results confirm broad rubidium mineralisation at Mt Edon

- High-grade assays returned up to 0.51% Rb2O and up to 0.25% Li2O

- Broad mineralised pegmatite intercepts including 54m @ 0.17% Rb2O and 40m @ 0.23% Rb2O

- Remaining assay results pending, expected to further strengthen the dataset for upcoming resource estimation

- Maiden JORC Mineral Resource Estimate in progress

The drilling has confirmed the continuity and extent of the previously identified mineralisation within the Sophie pegmatite and has further improved the Company's understanding of the geometry and distribution of mineralisation ahead of resource estimation activities.

Pleasingly, all pegmatite intervals received to date have returned significant broad rubidium mineralisation.

Morella Managing Director James Brown said:

"These initial results continue to demonstrate the scale and continuity of rubidium mineralisation at Mt Edon and further strengthen our confidence in the Sophie Prospect as we progress toward the maiden Mineral Resource Estimate.

Pleasingly, all pegmatites tested to date have returned broad zones of rubidium mineralisation, supporting our geological interpretation and providing increased confidence in the continuity and extent of the mineralised system.

Importantly, these are only the first assay results from the current drilling program, with additional results expected during June. We look forward to incorporating the complete dataset into the maiden Mineral Resource Estimate and continuing to build our understanding of what we believe is a significant rubidium project with substantial development potential."

Drilling Program Results

During February 2026, Morella executed a drill program (20 holes for 1,863m) targeting both known mineralisation as well as testing new exploration targets.

Designed primarily to further develop the Sophie pegmatite mineralisation revealed during the 2024 drilling program, these initial drilling results have confirmed broad zones of rubidium mineralisation within the Sophie pegmatite system and have improved the Company's understanding of mineralisation continuity and geometry ahead of maiden resource estimation activities.

All pegmatite intervals were submitted for assay to ALS Global Laboratories Perth for an extensive suite of 36 elements by peroxide fusion followed by ICP-MS analysis.

Lithium credits further enhance potential economics of the project, with the best intercept of 54m @ 0.1% Li2O found in MER036.

Conclusions and next steps

Initial results from the Mt Edon RC drilling program are highly encouraging, demonstrating broad zones of consistent rubidium mineralisation and confirming the scale potential of the Sophie pegmatite system. The combination of strong intercept widths and locally elevated grades highlights the growing opportunity to define a maiden Mineral Resource at the Sophie Prospect.

These outcomes materially advance the Company's geological understanding and provide a solid foundation for the ongoing maiden JORC Mineral Resource estimation. With additional assay results still pending, the current dataset is expected to strengthen further, supporting increased confidence in continuity, geometry and grade distribution.

Next steps include:

- Completion and integration of all outstanding assay results into the geological model

- Advancement of the maiden JORC Mineral Resource estimate for Mt Edon

- Ongoing metallurgical testwork in collaboration with Edith Cowan University, focused on extraction pathways and optimisation of rubidium and associated lithium recovery

- Planning of follow-up drilling programs to expand mineralisation along strike and at depth, and to support future resource upgrades

Overall, the Company considers these results to be an exciting step forward for the Mt Edon Project, with strong momentum building towards the delivery of a maiden mineral resource and ongoing technical work aimed at unlocking the project's full development potential.

About Mt Edon

The Mt Edon Project is located in Western Australia and hosts rubidium-bearing pegmatite mineralisation with associated lithium potential. The Project has demonstrated extensive pegmatite development and mineralised continuity, providing a solid foundation for resource definition.

About rubidium

Rubidium (Rb) is a rare alkali metal that typically occurs within highly fractionated lithium-caesium-tantalum (LCT) pegmatites, often associated with minerals such as microcline, lepidolite and pollucite. It is primarily used in specialty glass formulations, advanced electronics, atomic clocks, fibre-optic systems and medical imaging technologies. Rubidium is currently classified as a Critical Mineral by both the United States and European Union.

Global rubidium supply remains extremely limited, with most material produced as a by-product from small lepidolite or pollucite operations. Production is concentrated in only a handful of jurisdictions, and the market remains thin, opaque and highly constrained.

Mt Edon's microcline-hosted rubidium mineralisation positions Morella - through the Morella-Elevra JV - to participate in the emerging critical minerals sector and to evaluate potential downstream opportunities aligned with its broader lithium and battery materials portfolio.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/X180M062

About Morella Corporation Limited:

Morella Corporation (ASX:1MC) (OTCMKTS:ALTAF) (FRA:HDG0) is advancing a diversified portfolio of critical mineral projects across Australia and North America, targeting lithium, rubidium, titanium and vanadium - essential materials for the clean-energy and high-technology economies.

With a management team experienced in the electric-vehicle and lithium supply chain, Morella combines technical capability with a long-term belief in responsible resource development. Its projects span the Mt Edon Rubidium-Lithium and Dixon Well Titanium-Vanadium prospects in Western Australia, the Mallina, Tabba Tabba and West Wodgina Lithium Projects in the Pilbara, and the Fish Lake Valley and North Big Smoky Lithium Projects in Nevada, USA.

Morella's vision is to supply the critical resources that power, connect, and sustain a cleaner global future.

Contact:

 
James Brown
Managing Director
E: info@morellacorp.com