Ann: Potential Primary REE Targets at Quicksilver, page-32

Unless I have misinterpreted the information, it appears that there is a belief that the release of the core samples associated with the large nickel-cobalt oxide resource at Quicksilver 1 & 2 are the 3rd stage metallurgical samples , However, I would like to clarify that this assumption may not be entirely accurate.To provide further context, here are some of the best results announced to date from the core samples:
• QAC0010: 4m @ 3,295ppm TREO (including 1m @ 7,915ppm TREO) from 42m.
• QRC0039: 10m @ 2,548ppm TREO (including 1m @ 3,949ppm) from 21m.
• QRC0135: 1m @ 10,600ppm TREO from 57m.
• QRC0061: 1m @ 6,700ppm TREO from 8m. As for the current status, my understanding is that we are now awaiting the results of the Stage 3 metallurgical testwork, which is currently underway. This phase commenced after the completion of 8 PQ diamond holes, covering a total of 548.9m. All the samples have been delivered to the BV laboratory in Canning Vale for analysis. We anticipate receiving the assay results in approximately 4 to 6 weeks, with the final metallurgical results expected within approximately 12 to 16 weeks from April 5th, considering laboratory availability.

The Stage 3 metallurgical testwork is specifically designed to further de-risk the proposed extraction flowsheet for nickel and cobalt, ultimately proceeding to a Scoping Study. Wood PLC has been engaged to design and manage the metallurgical test work program, which will be carried out at Bureau Veritas in Canning Vale. The program will involve testing approximately 1600kg of bulk sample, comprising 2 x 100kg samples per hole.
Upon completion of the main test program, the Company plans to incorporate additional studies, subject to sample availability. These studies aim to explore further downstream options, including the potential for REE extraction, secondary nickel products suitable for electric vehicle (EV) batteries, high-value industrial products, and Scandium extraction potential.
Additionally, it is important to note that the diamond core results are currently overdue. understand the anticipation surrounding these results, to finalize the analysis and provide them as soon as possible. the final metallurgical results are expected within 12 to 16 weeks from April 5th, placing us around the 28th of June. This timeline will allow us to conduct bench metallurgical testwork specifically focused on potential REE recoveries, further expanding the project's potential.