Ann: HPA PFS Update, page-2

King River Resources Limited (ASX: KRR) is currently compiling the Speewah Prefeasibility Study (“PFS”)
on the company’s 100% owned Speewah Specialty Metals (“SSM”) Project in the East Kimberley of
Western Australia. KRR plans to initially scale the SSM project to High Purity Alumina (HPA) production,
with V2O5, TiO2 and Fe oxide as co-products at a later stage but not part of the PFS.

As reported in KRR ASX release 23 April 2020, further hydrometallurgical work has continued to be
undertaken for our HPA PFS to be finalised on completion of the following tests, including:
• repeating the previously reported 4N HPA product test on a larger sample to repeat the >99.99% result
and provide additional product for verification analyses;
• an independent umpire assay of our >99.99% Al2O3 result (KRR ASX release 23 April 2020);
• new equipment trials to increase the calcination temperature to ensure the HPA phase is all alphaalumina;
• confirm our HPA is 100% alpha-alumina by an X-Ray Diffraction (XRD) analysis;
• increase the Stage 2 purification efficiency.

In addition, the CSA Global mining study and Como Engineers plant and infrastructure design and costings
are largely completed waiting on final model validation and review.

The Company aims to release the PFS as soon as practicable on completion of these remaining outcomes.

This announcement was authorised by the Chairman of the Company.