Ann: BHCP Resource Update, page-2

KEY POINTSa Measured Resources have increased by 32% when compared with the former estimate (2021).a The updated Mineral Resource estimate for the Broken Hill Cobalt Project (BHCP) now comprises 126.5 Mt at 867 ppm cobalt-equivalent (CoEq) (690 ppm cobalt, 7.5% sulphur and 134 ppm nickel) for 87 kt contained cobalt, 9,510 kt sulphur and 17 kt nickel (at a 275ppm CoEq cut-off).a Infill drilling has supported an improved resource classification for the Big Hill deposit with 31% of tonnes classified as Measured and a further 54% classified as Indicated.a Measured and Indicated resources now comprise 66% of the total Mineral Resource.a The estimate is a major stepping stone in completion of the Definitive Feasibility Study (DFS) and will form the basis of detailed mine planning and scheduling.Cobalt Blue’s CEO, Joe Kaderavek commented “The recent drilling program has further advanced our assessment of key modifying factors critical to the Definitive Feasibility Study. The realisation of an improved resource classification for Big Hillis particularly positive with 66% of the Mineral Resource now available for potential conversion to Proven and/or Probable Ore Reserves. The Mineral Resource will form the basis of detailed Life of Mine planning and scheduling.” QUOTE
Good news keeping up confidence in company’s future