Ann: Alpha Project and Corporate Update, page-2

Key Points:
• Product identification and certification work on bulk samples from the
Alpha Torbanite Project in Queensland is now complete.
• Analysis by Technix, Greenvale’s bituminous product advisor,
indicates that additional work is required to achieve a premium C170
bitumen product certification, with work on the Alpha Scoping Study to
be suspended while key aspects of the project are re-evaluated.
• Active Business Development program also underway targeting
additional growth opportunities for shareholders, with several high-
quality opportunities currently being evaluated and subject to
advanced due diligence.