Commenting on the update from the Company’s Swedish projects,...

Commenting on the update from the Company’s Swedish projects, Executive Chairman, Mr
Ross Landles, said:

“It’s great to get on the ground on our new Swedish properties. The Gyttorp program has progressed
extremely well and the magnetic survey, now near completion, will improve our understanding of the
magnetite distribution, and allow definition of drill targets for the project’s maiden drill program.

The Gyttorp project has producing exciting REE results over an extensive area. The principal focus
of activities is the 3 km trend in the north of the property where REE are present. The extent of the
mineralisation indicates the potential to develop significant tonnages of REE mineralisation.

Copper mineralisation is located in the same magnetic complex as the most elevated REE results
and the area of the magnetic survey will also cover the copper mineralisation.

Additionally, we commenced a reconnaissance rock chip sampling and mapping of historical
magnetite iron workings and areas of recorded REE occurrences, to assess the extent and form of
the REE mineralisation on the eight new properties recently granted.

We are extremely buoyed by preliminary sampling that has defined REE occurrence up to a
staggering 18.56% TREE+Y confirmed by pXRF in the new Striberg property and we look forward
to announcing assays as they become available, with photographs below of initial pXRF results
obtained by the Bastion Team while on the ground.

Copper mineralisation in historical drillholes on two of these properties is an additional opportunity we
are pursuing. We look forward to bringing news to the market as our exploration plan progresses in
Sweden.”