Ann: Blackstone Intersects 147m Nickel Discovery at Ban Khoa, page-18

Just a reminder of what was released on Nickel Day with respect to the potential of Ban Khoa...(see attachment below)

Note the historical assays from previous drilling which add weight to the size and potential of the deposit when combined with today's announcement.

I think one comment(which may have been missed by some) is important for those who are concerned about the average Ni content and that is the potential for Ban Khoa ore to combine with Ban Phuc ore to increase the throughput for our future 4-6mtpa concentrator. The metallurgy work is underway....

Yes this may limit the mine life extension but we know we have a minimum of 10-12yrs right now and 20 more targets to drill....The UBU NPV on conservative assumptions will still add much value to the overall strategy and valuation. Not to mention the upside potential as the Ni price rises in 2023/24.

DISTRICT SCALE NICKEL SULFIDE OPPORTUNITY – TA KHOA PROJECTBAN KHOA HAS POTENTIAL TO ADD SIGNIFICANT MINE LIFE

 The Ban Khoa prospect is analogous to the Ban Phuc DSS orebody Blackstone has commenced drilling to delineate DSS resources at Ban Khoa

13