Ann: Ancuabe Commercial Pilot Plant Update, page-2

ASX Announcement 18 November 2021 Ancuabe Commercial Pilot Plant Update EPC Contractor MCC supportive of construction of Commercial Pilot Plant Triton Minerals Limited (ASX: TON, Triton or the Company) is pleased to announce that it has held highly constructive discussions with MCC International Incorporation Limited (MCC) in relation to the Commercial Pilot Plant planned to be built at the Ancuabe Graphite Project in Mozambique. As announced on 4 November 2021, Triton has engaged CPC Project Design (CPC) to assist the Company with the Strategic Review of the Ancuabe Graphite Project, which primarily relates to bringing the Company’s flagship project into production in the near term, at a small scale and on a commercially viable basis. Triton is of the view that this will have several key benefits, namely providing validation of the process for potential funding partners and to generate further interest from potential offtake partners across a number of industries and geographical locations. The appointment of CPC to construct the Commercial Pilot Plant is in addition to the execution of an Engineering, Procurement and Construction (EPC) contract with MCC for the mineral processing facility and infrastructure for the large scale, circa 60,000 tonne per annum Ancuabe Graphite Project in Mozambique (as announced on ASX 24 September 2018).
Triton has confirmed with MCC that they are supportive of Triton’s initiative for CPC to construct the Commercial Pilot Plant. These developments pave the way for Triton to bring the Ancuabe project initially into production on a small scale in the near term, prior to commencement of the large-scale project. In addition to the engagement of MCC as the EPC contractor to the postponed larger scale Ancuabe Graphite Project, Triton will endeavour to utilise MCC as preferred equipment supplier which may assist with equipment finance which the Company expects will be sourced at attractive rates. Triton’s executive director, Andrew Frazer has said “I am glad to confirm that MCC, who are one of the world's largest engineering and construction companies, are on-side with our renewed company strategy and support our plans to have CPC construct the Commercial Pilot Plant which will see production from the Ancuabe Graphite Project in the near term.” The Company confirms that it will shortly commence actively exploring funding models and options for the Commercial Pilot Plant construction costs, such as BOOT arrangements, off-take linked funding and traditional debt. This ASX release was authorised by the Board of Directors.