Ann: Ausenco Awarded Narraburra Scoping Study, page-4

Thank you. Much appreciated.

Narraburra Rare Earth Oxide (REO) Mineral Resources (JORC 2012) - April 2023
Weathered regolith (above granite base rock)

Layer (domain)	JORC Resource class	Density (t/m³)	Cut‑off TREO¹-CeO₂ (ppm)	Tonnes (Mt)	Total REO TREO¹ Total (ppm)	TREO¹-CeO₂ Total (ppm)	Light REO LREO² Total (ppm)	Heavy REO HREO³ Total (ppm)	Magnet REO MREO⁴ Total (ppm)	Potentially deleterious⁵
										Th (ppm)	U (ppm)
TM (1)	Indicated	1.70	300.0	0.8	503.00	366.80	272.04	230.95	91.79	25.93	5.74
RMU (2)	Indicated	1.76	300.0	5.0	573.29	352.46	357.63	215.66	86.26	40.42	9.96
RML (3)	Indicated	1.80	300.0	41.7	810.01	535.51	469.90	340.11	131.71	37.45	12.79
All Indicated			300.0	47.6 50%	779.86	513.40	454.69	325.17	126.25	37.56	12.37
TM (1)	Inferred	1.70	300.0	0.7	528.87	362.76	296.90	231.97	89.68	26.96	5.53
RMU (2)	Inferred	1.76	300.0	3.8	527.90	360.77	310.34	217.56	82.63	33.75	9.95
RML (3)	Inferred	1.80	300.0	42.9	715.59	500.32	447.76	267.82	140.72	27.82	9.88
All Inferred			300.0	47.4 50%	697.89	487.18	434.60	263.28	135.34	28.28	9.82
TM (1)	Ind + Inf	1.70	300.0	1.5 2%	514.49	365.01	283.08	231.40	90.85	26.39	5.65
RMU (2)	Ind + Inf	1.76	300.0	8.8 9%	553.61	356.06	337.13	216.48	84.69	37.53	9.96
RML (3)	Ind + Inf	1.80	300.0	84.7 89%	762.15	517.67	458.68	303.46	136.28	32.57	11.31
All Ind + Inf			300.0	94.9	738.95	500.31	444.66	294.28	130.79	32.93	11.10
Total REO (TREO) = Total REOs + Yttrium oxide ((La2O3+ CeO2+ Pr6O11+ Nd2O3+ Sm2O3+ Eu2O3+ Gd2O3+ Tb4O7+ Dy2O3+ Ho2O3+ Er2O3+ Er2O3+ Tm2O3+ Yb2O3+ Lu2O3) + Y2O3) Total light REO (LREO) = Total light REOs (La2O3+ CeO2+ Pr6O11+ Nd2O3+ Sm2O3) Total heavy REO (HREO) = Total heavy REOs + Yttrium oxide ((Eu2O3+ Gd2O3+ Tb4O7+ Dy2O3+ Ho2O3+ Er2O3+ Tm2O3+ Yb2O3+ Lu2O3) + Y2O3) Total permanent magnet REO (MREO) = Total permanent magnet REOs (Pr6O11+ Nd2O3+ Tb4O7+ Dy2O3) Th and U are typically associated with REO deposits and may be deleterious due to their radioactivity

For full details of MRE, including cut-offs, see ASX announcement dated19 April 2023.