Ann: Coburn Mineral Sands Project Update, page-2

Strandline starts Definitive Feasibility Study on Coburn mineral sands project in WA

Drilling underway to produce bulk samples for potential customers as part of negotiations to secure offtake agreements

HIGHLIGHTS

• Strandline has commenced a full Definitive Feasibility Study (DFS) on its zircon-rich Coburn mineral sands project in Western Australia

• The DFS forms part of the Company’s strategy to further optimise the project while also positioning Coburn for a development decision as soon as practical

• Drilling at Coburn is now underway to generate bulk samples which will be used in offtake negotiations and refinement of process design parameters

• The Coburn project has key project approvals already in place, including mining and environmental licenses, and is well positioned to capitalise on the growing strength of the mineral sands market

• Coburn has a large JORC Resource of 979Mt at 1.26% HM and Ore Reserve of 308Mt at 1.2% HM, a projected +19 year mine life and high value product suite of zircon and high titanium minerals

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