Ann: Fully Funded Bulk Sample, page-3

Bulk Sample to be provided to Uranium One (U1) a wholly owned subsidiary of ROSATOM • Samples sent to ROSATOM for testing were successful • Bulk Sample program to be funded by U1


Magnis Resources Limited (“Magnis” or the “Company”) (ASX:MNS) is pleased to announce that following the successful testing of its graphite samples sent to Russia’s ROSATOM, a bulk sample program is going to begin soon funded by U1, a wholly owned subsidiary of ROSATOM. Bulk Sample Program U1 will fund a bulk sampling program to produce Super Jumbo, Jumbo and battery feedstock.
It is expected approximately 18 tonnes of ore will be required. The ore will be extracted from drill sample to give a full representation of the ore body and minimise any risk from localised variability. Most of the drill sample is already available with concentrate to be produced in Australia and sent to U1 for testing.
Director of U1 Vladimir Hlavinka commented: “The initial graphite samples provided to us by Magnis were unlike anything we have seen in the past. We are interested to complete the bulk sampling program and move into a binding agreement.” Chairman of Magnis Frank Poullas commented: “There’s no doubt our graphite from Nachu is unique and today’s announcement is confirmation of this. We look forward to progressing our current relationship with U1 towards a binding offtake.

Laters..