FURTHER TEST WORK ON SUREFIRE’S LEACH PROCESS FOR VANADIUM EXTRACTION IMPROVES RESULTS TO 97% RECOVERY AFTER 24 HOURS ______________________________________________________________________________ Key Points: A second phase of laboratory test work has improved the recovery of vanadium to 97% after 24 hours using its breakthrough pre-treatment and leach process of Victory Bore magnetite concentrate. This follow-up test work confirms that the metallurgical conditions require no high pressure or high temperatures (roasting) of the pre-treated magnetite. The fact that roasting is no longer required is significant for future processing with significantly reduced carbon footprint, reduced OPEX and CAPEX. The next stage of leach test work is being designed to confirm the commercial scalability of the process. Subject to satisfactory upscale, this will be included in Surefire’s development plans for its World Class Victory Bore Project. The process will be protected by a provisional patent application, wholly owned by Surefire. _______________________________________________________________________________
