Ann: Independent Resource Estimate of 6.9Moz PdEq, page-22

‘“This updated JORC resource estimate of 5.0Moz of PGM3E and 238kt of nickel is a pivotal milestone for the Company, demonstrating the potential for Panton to be a PGM-nickel project of global scale outside the primary supply jurisdictions of Russia and South Africa,” managing director Jardee Kininmonth says.

“There remains significant exploration upside at Panton with potential to add both tonnes and grade across numerous targets.

“We intend to follow up the success of the new MRE with a drill program which will test a number of exploration targets including the impressive Northern Anomaly which is highly prospective for concentrated sulphide zones.”’