Ann: Codrus Secures Large Scale Niobium Rich REE Project in WA, page-186

Have to say very responsive Managing Director!! Only sent the email yesterday evening...

So decided to ask a few questions since the constant question has been asked about capital raise/ type of assays... Sharing with the wider audience as the tree shaking continues


As a current investor was hoping you could clarify a few facts post reviewing recent announcement (AMAZING results by the way );

1. Are we anticipating a capital raise in the next quarter, noting I believe there’s 3 million in the bank? NO
2. Blackstone Minerals – are still a major investor I believe at 48 percent holding is this correct? Yes Blackstone Minerals major holder with 35m shares
3. The Project provides an outstanding opportunity for Codrus to diversify into the critical minerals space and build on its current gold and copper assets by securing exposure to a commodity sector with outstanding fundamentals and a strong growth outlook.- noting the recent reference to gold and copper assets, are we aware of any potential drilling results for other minerals All results for gold and copper for the year have been reported to the market
4. Codrus has pegged additional tenure (E70 /6306) adjacent to the south-western boundary of the Karloning Joint Venture tenement – how far is this from our current 6.41% Niobium finding. Noting that exploration for this will commence shortly are we expecting same project resources to work across both tenement’s during Q1 2023. The new tenement is within 1km from the current reported samples. We will generally use the same resources across these two tenements as they are very close.
5. Samples highlighted in yellow have been re-assayed (or for MREO and TREYO recalculated with new assay data), and reported here, due to originally exceeding the upper detection limit are yellow. Upper detection limit for REE, Ta, Nb 5,000ppm, Y 50,000ppm. Assays expressed as REE oxide. MREO., MREO% and TREYO ppm values highlighted in yellow also been updated to reflect the new results. << noting can I please confirm the 6.41 % Niobium from the quarry , depth of 20M from memory in the announcement would consider that the overall depth/diameter of hole would all display an average concentration 6.41%. I ask this as to clarify my lack in the mining sector regarding quarry interpretation as per a recent communication on MARKETHERALD.com.au advising that high concentrations are usually only present on surface because of weathering of soil . In this case, this is not in fact a true representation as the % via assays shows this presence in the depth and diameter of the hole. These results were from grab samples from the floor and walls of the quarry. It is best to view this sample as being at the very top of the grades one would observe, and not an average.

Can I also confirm that the investors are regular update on the progress regardless of how insignificant it may appear re: drilling and presentation plan. We will always meet ourobligations of continuous disclose to the market.