Ann: AVZ commences Manono Scoping Study, page-6

This is great. What a considered and balanced update. They are pushing onwards and upwards. Corporate Update Mr Ferguson further commented: “Despite recent share price volatility, the Board considers that Manono’s investment appeal and technical fundamentals remain undiminished. There is currently a high level of stability and positive momentum at an operational level in the DRC. In our view the underlying fundamentals of the project remain very strong. The Manono Lithium Project continues to deliver record intercepts from drilling at Roche Dure, including those announced on 30 April 2018 with intercepts of 295.03m at 1.75% Li2O and 856ppm Sn, 283.06m at 1.59% Li2O and 807ppm Sn and 289.58m at 1.63% Li2O and 845ppm Sn, which are high grades of lithium and tin. Independent confirmation of the size and quality of the Manono Lithium Project is not far away, with the Company aiming to announce a maiden JORC Mineral Resource, for just an initial portion of the Roche Dure Pegmatite (~800m of 2km of strike) in July 2018. Defining a Mineral Resource at Manono will be a significant milestone, coming less than 18 months since we began exploration on the project and six months since resource diamond drilling began. To put this in perspective, Manono extends for more than 13km, and we will aim to complete several updates to our maiden JORC Mineral Resource at Roche Dure and further along strike at other centres over the life of the project. For now, we are focussed on a small percentage of the total strike, but an incredibly high-quality section of the Kitotolo Sector at Roche Dure. Initial and historic metallurgical work has shown ore from Manono treats well to produce a high-quality concentrate with very low deleterious elements. We are continuing with our optimisation work to improve on the final product. Manono has historically produced a 6.7% lithium concentrate. There are numerous transport options available to deliver product to market and we are in the process of determining the most cost effective one to suit our long- term needs. We are in the enviable position of being one of the few lithium companies not to have forward sold any of our future product, which means we have complete control of our financial flexibility. Off-take and investment agreements are considered very likely to feature in our future funding solutions and these will be appropriately structured. In summary, we are in the strongest position in our lifespan. We are well funded with approximately $17 million in the bank, no debt and a strong pipeline of news flow over the next 6-9 months as we move Manono to a position where a final investment decision can be made to progress to production.”