Ann: Concept Study Update, page-4

King River Copper Limited (ASX: KRC) provides this update on the progress of the company’s Vanadium
Concept Study for its 100% owned Speewah Vanadium Project in the East Kimberley of Western
Australia. The main objective of the Concept Study is to identify and address the technical hurdles
necessary to complete a Scoping Study.
The study is examining the production of high purity vanadium pentoxide (99.5-99.9% V2O5), titanium
dioxide (>99% TiO2) and iron oxide (>68% Fe2O3) products utilising a novel process using a concentrate
derived from the Speewah Central vanadium deposit. The Company is also investigating the means for
the production of the vanadium electrolyte (VE) products that are used in vanadium flow batteries (VFB).
KRC aims to be a producer of 12,000 tonnes per annum of high purity vanadium pentoxide, 75,000-
90,000 tonnes per annum of titanium dioxide and 300,000-400,000 tonnes per annum of iron oxide
(hematite) in 3-4 years.
Items still being addressed in the Concept Study include:
❖ Finalising the Process Flow Sheet (PFS):
o Optimisation of the V2O5, TiO2 and Fe2O3 process routes and improving recoveries
o Optimising hydrochloric acid recovery
o High-level mass and energy balance
o Capital and operating cost estimates of processing
❖ Mining and beneficiation cost estimates
❖ Open pit optimisation and mining schedule study.
Once these items have been addressed, KRC will finalise a Scoping Study into the preliminary economics
of the Speewah Vanadium Project suitable for release to the market in accordance with the reporting
requirements for production targets and forward looking statements. The modifying factors listed in the
JORC 2012 Code will be considered to address the Material Assumptions for the Scoping Study (please
refer to Appendix 1).
KRC is very pleased with results and the major developments to date including: