Ann: $2.5m Placement to Accelerate Drilling at Equador Project, page-156

Actually from the original 23 April 2024 Announcement:

SUMMIT TO ACQUIRE TRANSFORMATIONAL BRAZILIAN NIOBIUM, RARE EARTH & LITHIUM PORTFOLIO

https://yourir.info/resources/c300f...TRANSFORMATIONAL_NIOBIUM_REE_LI_PORTFOLIO.pdf

It showed the grades as:

EQUADOR ASSAYS (Niobium + REE) - 303,400ppm or 30.34% (Nb2O5)

The Assays since then have Shown:

• 53.07% Nb2O5, 18.32% Ta2O5 and 1,956 ppm PREO (SUMSS007)
• 42.08% Nb2O5, 26.07% Ta2O5 and 2,780 ppm PREO (SUMSS021)
• 40.88% Nb2O5, 25.27% Ta2O5 and 6,367 ppm PREO (SUMSS023)
• 40.86% Nb2O5, 26.58% Ta2O5 and 890 ppm PREO (SUMSS022)
• 40.84% Nb2O5, 15.74% Ta2O5 and 4,660 ppm PREO (SUMSS001)
• 38.65% Nb2O5, 26.41% Ta2O5 and 3,810 ppm PREO (SUMSS018)
• 34.45% Nb2O5, 26.73% Ta2O5 and 5,330 ppm PREO (SUMSS004)
• 22.01% Nb2O5, 34.16% Ta2O5 and 3,020 ppm PREO (SUMSS003)
• 25.67% Nb2O5, 25.92% Ta2O5 and 9,070 ppm PREO (SUMSS002)
• 21.22% Nb2O5, 39.15% Ta2O5 and 4,120 ppm PREO (SUMSS045)
• 19.95% Nb2O5, 38.70% Ta2O5 and 4090 ppm PREO (SUMSS043)
• 19.55% Nb2O5, 15.24% Ta2O5 and 24,760 ppm PREO (SUMSS006)
• 18.80% Nb2O5, 40.312% Ta2O5 and 3,900 ppm PREO (SUMSS046)

So actually the are very similar grades,
To the ones from the Acquisition Announcement.

With the added bonus of Tantalum,
Tantalum is worth around 4 to 4.5 times the price of Niobium:

In EVERY case of the grades shown above,
The Tantalum is worth significantly more than the Niobium.

It also means that from the grades shown,
The combined value would be around 2.5 times
to over 8 times the value of the Niobium alone,
As the Tantalum grade increases....